Oil prices tick higher (CL=F, BZ=F) as Hurricane Milton makes landfall in Florida and amid ongoing geopolitical tensions in the Middle East. Andy Lipow...
) as Hurricane Milton makes landfall in Florida and amid ongoing geopolitical tensions in the Middle East. Andy Lipow , president of Lipow Oil Associates , joins Morning Brief Hosts
Lipow says, “The biggest impact in the oil industry is really on the supply and distribution of gasoline and other refined products into Tampa and we'll have to wait and see whether any of those terminals along the waterfront there were damaged. But meanwhile, we already have tankers who have loaded gasoline, making their way into the Miami area. So resupply is going to happen.
But on the other hand, there is more than adequate oil supply in the market and you couple that with OPEC deciding to restore some of its production cuts in December means that the oil market is being weighed down. How significant of a factor is it not that significant of a factor just in terms of the potential of what this could do to supply disruption?
But meanwhile, we already have tankers who have loaded gasoline making their way into the Miami area.It's whether the infrastructure, the power grid and and uh employees being available are going to be able to distribute that gasoline to the local retail service station.
Oil Prices Andy Lipow Lipow Oil Associates Brad Smith Supply Disruption Oil Market Seana Smith Oil Production
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