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.
In addition to this week's EIA oil