Oil rebounds as refinery restarts

Oil erases losses

WTI is now slightly higher on the session at $46.51 from as low as $45.84 a short time ago. The reason for the recovery is a report that Marathon's Galveston Bay refinery has restarted. It's a 450,000 bpd facility that has begun to refine crude once again.

The market is trying to get a handle on how long the closures will be. The storm hit Galveston 5 days ago and then moved North up the Texas coast.

h/t @AntBarton89 for the tip.