Oil and gasoline prices snapped back to levels seen before Hurricane Harvey disrupted about a quarter of U.S. refining capacity, but another incoming storm could cut fuel demand and weigh on prices, analysts said on Tuesday.
U.S. West Texas Intermediate crude rose 3.3 percent and was last trading at $48.83 as refineries sidelined by Harvey started processing oil into fuels. WTI closed at a seven-week low of $45.96 last Wednesday.
U.S. gasoline futures for October delivery fell 3.2 percent to $1.6913 per gallon after the September contract rose as high as $2.17 a gallon last week.
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