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Oil prices rose 1 percent Thursday, clawing back some of the losses made a day earlier, but U.S. crude is on track for the steepest monthly losses in more than a year on demand concerns after floods knocked out a quarter of U.S. refining capacity.Hurricane Harvey, which brought record flooding to the U.S. oil heartland of Texas and has killed at least 35 people, has paralyzed at least 4.4 million barrels per day of refining capacity, according to company reports and Reuters estimates.The shutdowns also led the U.S. government to tap its strategic oil reserves for the first time in five years Thursday, releasing 500,000 barrels of crude to a working refinery in Louisiana.U.S. commercial crude stocks fell by 5.39 million barrels last week to 457.77 million barrels, the U.S. Energy Information Administration said Wednesday.
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