oil hurricane premium over?

There is some talk that oil prices will continue to go down since the market priced in hurricanes messing up the supply and refineries. Since we are just about out of hurricane season, prices will continue to go down and trade in the $55-65 range level for sometime now.

Any thoughts?

As long as Iran and the Middle East exist, oil = volatility.

Actually, historically, oil price and oil volatility are inversely correlated. The volatility of oil in the $60s has been lower than when oil was around the $20 level.

Maybe percentage wise, but oil is down 20 bucks in a relatively short time which equals 20K per contract. When oil was in the 20s it would move, but not to 40 and back.

Yes, I mean percentage-wise.