From mint · · 40s
Hurricane Isaias Shuts Gulf Oil Output
Hurricane Isaias halts 72% of US Gulf oil production as prices surge.
In brief
Hurricane Isaias halts 72% of US Gulf oil production as prices surge. Hurricane Isaias shut 72% of Gulf oil output, raising shipping costs to $39.50 per barrel. Originally reported by mint.
Hurricane Isaias
Hurricane Isaias lifted US Gulf Coast crude prices as 72% of regional oil production shut.
Production Cutoffs
Marine Minerals Administration reported 1.46 million barrels a day halted, 72% of regional output.
BP Platforms
BP shut Thunder Horse and Na Kika platforms and evacuated Argos, Atlantis, Mad Dog.
Shipping Costs
Hiring a large crude carrier now costs $79 million, or $39.50 per barrel for 2 million barrels.
The essence
Hurricane Isaias shut 72% of Gulf oil output, raising shipping costs to $39.50 per barrel.
