Oil Jumps 4% On Inventory Draw, Hurricane Outages

Oil prices surged on Wednesday, with Brent up over 3% and WTI up nearly 4% shortly after the Energy Information Administration (EIA) reported surprise draws in U.S. crude oil inventory and natural gas stocks.  Also contributing to the surge in oil prices was a U.S. dollar giving up some of its recent gains and some 11% of output shuttered in the Gulf of Mexico as Hurricane Ian made its way toward the Florida coast.  At 1:45 p.m. EST Wednesday, Brent crude was trading at $88.92 per barrel, up $2.65 (+3.07%) on the day, while WTI was trading…