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YGRN - Hurricane Laura Set To Impact Weekly Estimate And Oil Production Average
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Welcome to the hurricane edition of Oil Markets Daily!
Hurricane Laura will materially impact the EIA oil storage report set to be released tomorrow. Refinery throughput was materially impacted with ~2.3 mb/d of nameplate capacity being affected. In addition, the Gulf of Mexico oil production shut-in from last week totaled ~1.1 mb/d average for the reporting week.
In combination, EIA crude storage draw this week is around ~4 million bbls based on our tanker tracking method. This could be impacted by just how much refinery throughput was reduced.