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- WTI and Brent crude futures hold in positive territory Tuesday, showing above the Monday high in the process as markets gear for further disruption to production after the linger impact of Hurricane Ida is dovetailed by another adverse weather system.
- Storm Nicholas has already struck Texas, with the high concentration of refining facilities in the area at risk of weather-forced shutdowns. Yesterday, the closing of the Port of Corpus Christi as well as the Houston Ship Channel were the first signs of disruption.
- Next resistance for WTI kicks in at the $73.52 Jul 30 high as well as the bear channel top drawn from the Jul 6 high at $71.37.