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Friday, 1 September 2017

Oil struggled as deadly storm Harvey batters the Gulf Coast.

On oil markets both main contracts edged down and continue to be buffeted by worries over Harvey, which has seen dozens of refineries shut down in the crude-rich Gulf and dented demand for the commodity.
With refineries shut down there is no demand for crude to be processed but the storm has led to a rise in petrol prices across the United States.
Analysts said the release next week of US inventory data could reveal a big jump in stockpiles as there are fewer place for the oil that has been pumped to be refined.
Tokyo - Nikkei 225: UP 0.7 percent at 19,642.76
Hong Kong - Hang Seng: DOWN 0.6 percent at 27,941.12
Shanghai - Composite: UP 0.1 percent at 3,366.26
Euro/dollar: DOWN at $1.1873 from $1.1882 at 2100 GMT on Wednesday
Pound/dollar: DOWN at $1.2908 from $1.2924
Dollar/yen: UP at 110.57 yen from 110.29 yen
Oil - West Texas Intermediate: DOWN two cents at $45.94 per barrel
Oil - Brent North Sea: DOWN 10 cents at $50.76
New York - Dow: UP 0.1 percent at 21,892.08 
London - FTSE 100: UP 0.4 percent at 7,365.26 
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