Bloomberg News

Gulf Crudes Strengthen After Storm Shuts in Some Offshore Output

October 07, 2013

Light Louisiana Sweet crude strengthened to the highest level in a month after Tropical Storm Karen shut in more than 2.9 million barrels of Gulf of Mexico crude production over the past four days.

LLS, the benchmark light, sweet oil on the Gulf Coast, gained 90 cents to a premium of $4 a barrel more than West Texas Intermediate at 3:49 p.m., according to data compiled by Bloomberg. It’s the highest level since Sept. 4.

BP Plc (BP/) and Anadarko Petroleum Corp. (APC:US) were among companies that evacuated workers and shut in oil and natural gas production from Gulf of Mexico platforms because of Tropical Storm Karen. About 491,000 barrels were still shut in today even as companies have started returning workers, according to the U.S. Bureau of Safety and Environmental Enforcement.

Heavy Louisiana Sweet oil strengthened by 75 cents to $3.75 a barrel more than WTI. Thunder Horse crude strengthened by 20 cents to a $1.20 premium.

Mars Blend, a medium, sour crude, strengthened by 20 cents to a discount of $1.65 a barrel. Poseidon crude narrowed its discount by 40 cents to $2.40. Southern Green Canyon crude strengthened by 30 cents to a $3.50 discount.

693,345 866,807 855,355 491,162

To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • APC
    (Anadarko Petroleum Corp)
    • $107.93 USD
    • 0.28
    • 0.26%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus