Oil futures rose Friday completing a third weekly gain as refineries in Louisiana restart and returning offshore production cannot keep pace. Oil gained a third week as investors focused on the ongoing production shut-ins in the U.S. Gulf of Mexico as more refineries have resumed operations nearly two weeks after Hurricane Ida tore through the region. Futures in New York posted its longest set of weekly gains since July after ending Friday 2.3% higher. More than a million barrels a day of U.S. offshore crude production remains shut-in after Ida swept through the area nearly two weeks ago. Meanwhile, more Louisiana refineries are resuming operations, raising demand for crude oil. The slow return of offshore production led to Exxon Mobil Corp. to secure approval for a second load of crude from the Department of Energy’s Strategic Reserves for use at the Baton Rouge plant. “The market is now laser […]