Gasoline futures rally as tropical storm floods Texas; U.S. oil prices nearly erase the day’s gain

Myra P. Saefong
Gasoline futures rally as tropical storm floods Texas; U.S. oil prices nearly erase the day’s gain

Gasoline takes the spotlight Thursday as reports of massive flooding in Texas leads to concerns of a slowdown in refining activity and lower demand for crude, prompting a rally in futures prices for the motor fuel but also a pullback in U.S. oil prices from their highs of the session.