Sunday, September 4, 2011

TROPICAL STORM LEE TEMPORARILY SHUTS OIL AND GAS RIGS ACROSS THE GULF OF MEXICO

The tropical storm Lee has forced to stop 60% of oil production (around 840,000 barrels/day) and half of the natural gas in the Gulf of Mexico, as rigs personnel has been evacuated. However, this situation shall not last long. 


Crude oil prices have been rising during the last couple of weeks, probably foreseen the activity peak of the hurricane season in the Atlantic basin, after Gadafi’s regime bear trend.

 
 
Some forces still want to pull oil up but fundamentals are more than bearish.

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