Gasoline made some of its biggest daily gains of the summer as pipeline and refinery outages had traders surging into fuels, eventually pulling crude prices up, too, Wall Street Journal writes.
Light, sweet crude for October delivery settled up 33 cents, or 0.8%, to $43.91 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, gained 74 cents, or 1.6%, to $46.59 a barrel.
Oil has benefited from much larger gains in refined products, a trader, broker and analyst said. Gasoline futures settled up 6.87 cents, or 5%, at $1.4302 a gallon. It is only the third time since mid-May that gasoline futures gained more than 5% in one day. Diesel futures gained 3.45 cents, or 2.5%, to $1.4162 a gallon.
