Oil Prices Down And Gasoline Up After Harvey.

The risk of fuel shortages has increased and demand for crude oil has subsided after the tropical storm Harvey closed close to a quarter of the US refineries. It reports Reuters.

According to Goldman Sachs, refineries with a production capacity of 4.1 million barrels per day are down on Tuesday, equivalent to 23 percent of US production. Restarting the refineries is estimated to take at least one week.

According to the commercial bank, the tropical storm has also accounted for equivalent to 15 percent of total US crude oil production.

The terms for US gasoline prices rose 5.3 percent on Tuesday to $ 1,8783, the highest level of over two years. Brent oil has backed 0.17 percent to $ 51.56 per barrel while WTI oil is down 0.73 percent to 46.09 dollars.