Ida Batters Louisiana With Winds Stronger Than Katrina U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities, while oil failed to hold onto an early gain given local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected to endorse a supply increase. Gasoline for October spiked more than 4% higher in New York before paring its advance, while West Texas Intermediate crude was little changed. Last week, WTI rallied 10% as investors wagered global demand would weather the setback posed by the spread of the delta coronavirus variant. Both crude oil and gasoline have been hit by volatile trading this month as investors weighed the challenge to consumption posed by the delta variant. This week, traders will weigh the fall-out from Ida, as well as the likelihood that the Organization of Petroleum Exporting Countries and its allies will go ahead […]