HONG KONG: Gasoline extended gains for the longest run since 2013 and oil fell as refinery operations remain shut after Tropical Storm Harvey made landfall a second time, dumping heavy rain across Louisiana.
Motor fuel prices climbed as much as 6.6% in New York, advancing for an eighth session, while oil dropped even as US crude inventories fell for a ninth week. Harvey crossed the Gulf Coast on Wednesday morning near the Texas-Louisiana border and has shuttered about 23% of US refining capacity, including Motiva Enterprises LLC’s Port Arthur plant, the nation’s biggest.
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