Hurricane Milton, which battered Florida, has exacerbated the situation by severely disrupting fuel distribution. The storm forced the closure of key fuel terminals, delayed tanker deliveries, and halted pipeline operations, deepening supply chain stress in the US market.
Oil prices fell on Wednesday after the U.S. Energy Information Administration (EIA) reported a significant increase in US commercial crude inventories. However, concerns over potential supply disruptions amid escalating tensions in the Middle East tempered the decline.