Wednesday's EIA Oil Storage Report - Oct

[dan_s]

This is the "Refill Season" for crude oil, gasoline and distillates inventories, which are all below normal for this time of year.

HFI Research:
"For the week ending Oct 4, we have a crude storage build of 3.75 million bbls. With the massive drop in refinery throughput last week, refinery maintenance season is upon us."

Technical support at $73/bbl for WTI held today. It bounced off that price and closed at $73.57.

People evacuating from Florida are going to burn up a lot of gasoline.

Central Florida is in for a rough day on Thursday. Winds will be over 100 mph for 12 to 15 hours as hurricane Milton crosses the state.

Milton is going to mess up imports and exports of crude oil and refined products for 3 to 4 days. Cat 5 hurricanes generate 100 foot waves.