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Futures Movers: Gasoline jumps to 5-month high as Hurricane Harvey bears down on Texas

Gasoline futures rallied Friday to levels not seen in more than five months, setting sights on the largest weekly gain since June, while oil prices edged up to pare their weekly loss.

Traders mulled over Hurricane Harvey’s threat to refinery activity, as well as energy production and demand, in the Gulf of Mexico region.

September gasoline RBU7, +1.30% jumped 5.5 cents, or 3.3%, to $1.719 a gallon on the New York Mercantile Exchange. Futures prices for the fuel traded at their highest level since mid-April and are poised for a weekly gain of roughly 5.6%, according to FactSet data.

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