Oil Prices Subdued But Bearish Catalysts Loom

Oil markets have been relatively subdued this week, with the prospect of Kurdish oil flows restarting adding some downward pressure to prices.Chart of the Week- Hurricane Hilary, the first tropical cyclone to hit southern California since 1939, seems to have spared US refiners along the West Coast, with the five refineries in the LA area reporting no major damage.- Before landfall, Los Angeles gasoline and diesel differentials were at 40-45 cent per gallon premiums to NYMEX RBOB and NYMEX ULSD, aggravated by the 160,000 b/d Torrance refinery going…