Kinder Morgan buckling up pipeline in Florida.

Kinder Morgan says that it

• Shutdown pipelines that are part of Central Florida pipeline system
• Has shutdown all terminals in Tampa Florida

Citgo is also shutting down its Tampa terminals as well.

The oil platforms in the Gulf of Mexico are not impacted by the storm.

Crude oil is down sharply today. The price is currently lower by -$3.75 and $73.36, after trading as high $78.42.

The move to the new hard to take the price above its 200-day moving average at $77.38. However, since then the fall has seen the price will back below its 100-day moving average at $76.04, and looks toward its 50-day moving average at $72.72. There is also a swing area between $71.44 and $72.62 (yellow area on the chart below).

Hurricane Milton remains a Category 4 storm ahead of the landfall expected Wednesday night/Thursday morning.

This article was written by Greg Michalowski at www.forexlive.com.