- WTI is up $1.05 to $41.00/Bbl, and Brent is up $1.10 to $43.09/Bbl
- WTI is trading $1/Bbl higher this morning, on news of a renewed push for an agreement on the stimulus package
- The EIA reported a build in inventories of 501 MBbls for the week-ending October 2, the first build in 4 weeks
- Chatter of Mexico's annual oil hedge has emerged. The country has kept this year's hedge under tight wraps, declaring it's details a "state secret". Time is running out to hedge 2021, and the market will be keeping a close eye on put options to see if there is any indication that the deals are underway
- Norway strike escalation may lead workers to cut a quarter of oil, gas output
- Six offshore oil and gas fields shut down on October 5 as Lederne ramped up the strike, cutting output capacity by 8%, or around 330 Mboe/d
- If escalated, production outages could total 966 Mboe/d. Another seven oil and gas fields could be shut down by October 14
- Hurricane Delta nears U.S. Gulf Coast, is expected to make landfall on Friday
- The storm, expected to intensify over the Gulf's warm waters to a Category 3 hurricane with winds of 115 mph, has halted 80% of the region's offshore oil and nearly 50% of its natural gas output
- Gulf of Mexico operators have shut in 1.5 MMBbl/d of oil production ahead of Hurricane Delta, according to the BSEE