Crude oil prices bounced off lows but markets continued to weigh the impact of Tropical Storm Harvey on supply and demand.
The U.S. government tapped its strategic oil reserves for the first time in five years, releasing 1 million barrels of crude to a working refinery in Louisiana.
U.S. crude stocks fell sharply last week even as refineries hiked output in the run up to Harvey’s approach, the Energy Information Administration said.
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