Oil prices on Wednesday held on to gains from the day prior on fears of potential damage to U.S. oil production from Hurricane Irma, as well as renewed demand for crude from restarted refineries in the Gulf Coast, Market Watch reports.
West Texas Intermediate U.S. crude oil for October were trading up around 20 cents, or 0.4%, at $48.6 a barrel, on track for its highest settlement level since Aug. 9, according to FactSet data. Brent crude, the global benchmark, gained 50 cents, or 0.9%, to $53.88 a barrel, trading around its highest level in over three months.
