Extremely flat session for oil in the...........>

OIL: Extremely flat session for oil in the Asia-Pac session ahead of DOE outlook

data out on the coming overnight session, oil took a slight bid in Asia as

reports came down that part of the Valero Port, meant to be opening on Thursday

will be kept shut for at least a few more days. Crude oil is currently up $0.14

at $51.06.

- The overnight session was a lot more eventful as markets learned 58% of the

U.S. Gulf of Mexico's crude oil production is still offline which equates to

1.024mln barrels per day and roughly half of the Gulf's gas production remains

offline too, Hurricane Harvey was the main cause for the closures but since we

have seen more and more storms disrupting production on the coast in a highly

active season.

- MNI technical analysis sees support at $1285.1 - Hourly support Oct 10 and

resistance at $1292.7 - 21-DMA. Bulls again look for a close above $1296.4 to

shift initial focus back to $1313.6-1320.0. Initial support is noted at $1285.1

with bears needing a close below to gain breathing room with below $1277.6

needed to retain focus on $1242.0-1254.3.