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Oil firms as US Gulf refineries restart, dollar softens

September 7, 2017

Brent oil prices firmed on Thursday, hovering near 3-1/2-month highs as U.S. refiners restarting after Tropical Storm Harvey increased their crude processing and the U.S. dollar declined.

Brent crude futures were up 39 cents at $54.59 a barrel by 0921 GMT, close to their highest since May 25.

U.S. West Texas Intermediate (WTI) crude were up 8 cents at $49.24 a barrel, near a four-week high.

U.S. Gulf Coast facilities were slowly recovering from the devastating effects of Harvey, which hammered Louisiana and Texas almost two weeks ago, shutting key infrastructure in the heart of the U.S. oil and natural gas industry.

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