Oil prices are rising on hopes that Hurricane Jose will not do any damage to East Coast refiners that are running hot and heavy to make up for lost supply from Gulf Coast refiners that were hit hard by Hurricane Harvey. Refiners are already having success with getting gasoline prices to fall but there is more work ahead of them.
Tesla Inc said on Wednesday its mass-market Model 3 sedan was on track for volume production by September, encouraging investors who see the electric vehicle as the avenue to profitability for the young company.
All of a sudden it looks like global growth is trailing off, raising more concerns about crude oil demand. Yesterday, weak data out of China and warnings for the International Monetary fund about Asian economic growth hit oil and industrial metals.