Oil settled lower Thursday, pressured as expectations that Hurricane Harvey in the Gulf of Mexico may weaken demand for energy outweighed support from production slowdowns in the region. Natural-gas prices, however, inched a bit higher, while gasoline prices rallied on potential disruptions to processing facilities and refineries. October West Texas Intermediate crude lost 98 cents, or 2%, to settle at $47.43 a barrel on the New York Mercantile Exchange. September natural gas ended at $2.949 per million British thermal units, up 2.1 cents, or 0.7%, and September gasoline jumped 4.5 cents, or 2.8%, to end at $1.664 a gallon-the highest finish for this month to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News