Home/FX/Newsfeed

Hurricane Isaac to Impact Gulf Oil Production

Share Print 0

Tropical Storm Isaac is curtailing oil production along the Gulf of Mexico and threatening refineries, which could send already rising gasoline prices up another 10 cents in the coming week.
The U.S. Bureau of Safety and Environmental Enforcement, which oversees offshore oil production, said Sunday that nearly 25% of the current daily oil production in the Gulf of Mexico has been shut, with nearly 50 rigs and oil platforms already evacuated in advance of the storm. In addition, more than 8% of natural gas production in the Gulf has also been halted.

via CNN

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top