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The firm also views demand, especially in gasoline, to be returning to normal.
Hurricanes are actually good news for refineries.
Stocks of great companies do get cheaper as they go lower, says Jim Cramer. Use that to your advantage.
Here's what you need to know now for Thursday, September 7.
As analysts expected, refinery runs were down substantially during the week ended Sept. 1, leaving crude stockpiles to increase by nearly 5 million barrels, while gasoline inventories were depleted by more than 3 million barrels.