MCX HONEST CRUDE OIL UPDATE
Oil markets were volatile on Monday, with U.S. crude rising on production shutdowns while international Brent was pulled down by a flight into gold futures following a powerful North Korean nuclear test explosion.
Meanwhile, U.S. gasoline prices (RBc1) slumped back from a spike after the release of emergency fuel stocks and on signs that the damage from Hurricane Harvey to the Gulf coast energy infrastructure was not as bad as initially feared.
U.S. West Texas Intermediate (WTI) (Clc1) crude futures were at $47.42 barrel at 0411 GMT, 13 cents above their last settlement.
Traders said that this price rise was a result of crude production outages following Hurricane Harvey.
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