Oil rose for a third day as another storm menaced a key U.S. energy hub just weeks after Hurricane Ida hammered local output. Crude futures gained 0.6% in New York after closing at the highest since early August on Monday. The latest system, Nicholas, made landfall in Texas, posing a threat to coastal refineries and petrochemical facilities. Global oil supplies fell by 540,000 barrels a day in August amid unexpected disruptions and will be flat this month, according to the International Energy Agency. The world will have to wait until October for extra supply as output losses from Ida wipe out increases from OPEC+, the IEA said in a report. In an indication of the tightening market, global inventories that ballooned during the pandemic have shrunk back to the lowest level in 20 months. About 2.97 billion barrels of crude were stored at onshore facilities as of Sept. 5, […]