Here’s What To Look For In The Oil Inventory Numbers Tomorrow
Crude climbed 2.9% and natural gas rallied
to a 8-month high as tropical storm Emily in the Atlantic raised new concerns
about Gulf oil output.
British Petroleum’s
(
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PowerRating)
$6.5 billion
Thunder
Horse platform is listing badly. The platform–located in the Gulf of Mexico
and partially in the path of hurricane Dennis–is listing at 20 to 30 degrees.
It is expected to go online later this year. The platform is expected to produce
250,000 barrels per day.
Fifty-seven percent of the Gulf oil
production is still shut down. At one point, 97% of all production was shut
down.
Look for the energy inventory data
tomorrow (which will not include any impact Hurricane Dennis may have had).
Analysts are looking for a 2.8 million drawdown in crude stocks.
Brice Wightman