Oil is flat in Asia, WTI last down $0.02 at.....>

OIL: Oil is flat in Asia, WTI last down $0.02 at $45.94. Oil took a dip at the

open in Asia but has slowly recovered the loss to trade flat. Oil has declined

$2.50/bbl since the start of the week, impacted by Hurricane Harvey. Harvey made

landfall again on Wednesday hitting the Lousiana area and impacting refinery

operations, reports are that around 25% of US refining capacity is now offline.

- DoE inventory data showed headline crude stocks fell 5.392mln bbls in the

latest week, greater than the expected fall of 1.932mln bbls. This initially saw

a spike in WTI but the move was quickly pared.

- Gasoline has extended its gains again for the eighth session, last at $199.55

and is on its longest run of gains since early 2013. The largest US pipeline

operator announced yesterday that they would shut their main lines today.

- MNI technical analysis sees support at $45.62 - Bollinger band base,

resistance is seen at $46.18 - Hourly resistance Aug 30.