Oil jumps $1.30 on tight gasoline market, refinery news
WTI crude jumps
Crude prices are sharply higher. WTI is up $1.30 to $47.23.
Part of the story here is gasoline, with prices up 11% on reports that Exxon’s massive Beaumont refinery could be down for two weeks. With Labor Day also coming Monday, demand is also high and as a result, gas prices are at a