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Gasoline spikes 11% as largest US refinery will be offline up to two weeks

U.S. crude oil prices are on track to post the steepest monthly losses in more than a year on Thursday as concerns spread over falling demand in the world’s top oil-consuming country after storm Harvey knocked out almost a quarter of its refineries.But prices rallied in the oil products markets, with U.S. gasoline futures hitting a more than two-year high buoyed by fears of a fuel shortage just days ahead of the Labor Day weekend that typically sees a surge in driving.

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