Crude oil futures were higher in midmorning Asia trade Sept. 13 on concerns about tight US supply in the aftermath of Hurricane Ida and as Tropical Storm Nicholas is expected to begin moving up the Texas coast Sept. 13. At 11:25 am Singapore time (0325 GMT), ICE November Brent futures was 43 cents/b (0.59%) higher at $73.35/b while the NYMEX October WTI contract was up 45 cents/b (0.65%) at $70.17/b. “US oil industry struggles to get back on its feet following Hurricane Ida. More than 1m b/d of capacity are still offline, nearly two weeks after the storm hit the Gulf of Mexico,” ANZ analysts said Sept. 13. As of Sept. 10, 1.207 million b/d, or 66.36%, of US Gulf of Mexico crude oil production remained offline, according to the Bureau of Safety and Environmental […]