Nationwide, U.S. crude oil processing at refiners hit a four-year high for late August. But since then, a fire reduced operation at a crude processing unit at Sunoco's 335,000 barrels a day Philadelphia refinery.
With one eye on the menacing storm, traders also will be fixated on Federal Reserve Chairman Ben Bernanke's speech to the central bank's annual retreat in Jackson Hole, Wyo., Friday. At the event last year, Bernanke signaled a second round of stimulus measures, sparking a months-long rally in stock and commodity markets. "We've got the clouds over Bernanke and the real storm to watch," said MF Global's Lebow.
September gasoline futures settled 3.1%, or 8.95 cents a gallon, higher at $2.9679 a gallon, the highest price since Aug. 2. The single-day gain was the biggest since Aug. 10.
September heating oil futures settled 2.48 cents higher, at $2.9855 a gallon, the highest price since Aug. 3.