Oil Prices shot past $80 a barrel for a time Monday - Oil and Natural Gas Operations in Gulf of Mexico shut down as once Hurricane, now Tropical Storm Ida moved through
Tuesday, November 09, 2009
File photo by DoE
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* AP brings us the following report and it starts off like this... Oil prices shot above $80 a barrel Monday as a weakened U.S. dollar created more turbulence in energy markets than a tropical storm heading into the Gulf of Mexico... Ida had helped push crude prices higher all morning, but just as the then-hurricane was demoted to a tropical storm, the euro pushed passed the $1.50 level for the first time this month and sent oil even higher...
Read the rest at link below...
Energy prices jump even as Gulf storm weakens
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* The Wall Street Journal has the following report posted up on their website today...
OIL FUTURES: Oil Tops $80/Bbl On Dollar, Equities And Ida
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* Reuters has the following report on their website and it starts off like this... Energy companies shut oil and natural gas operations in the U.S. Gulf of Mexico as Tropical Storm Ida spun through the region...The Gulf is the source of 25 percent of U.S. domestically produced oil and 15 percent of natural gas. About 40 percent of U.S. refining capacity is located on the Gulf Coast...
Read the full report at link below...
FACTBOX: Storm Ida shuts Gulf of Mexico energy operations
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POST UPDATE:
Tuesday, November 10, 2009
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* Reuters has the following report up on their website late this Tuesday morning and it starts off like this... Exxon Mobil (XOM.N) said Tuesday its U.S. Gulf of Mexico operations have returned to normal following Tropical Storm Ida, but it's waiting for better weather to assess and restart offshore production at its Mobile Bay facilities...
Read the rest of this short report at link below...
UPDATE 1-Exxon US Gulf operations back to normal after Ida
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> Reuters has this informative report that starts off like this... Tropical Storm Ida had been downgraded to a tropical depression by the time it came ashore at Dauphin Island, Alabama, near Mobile Bay, on Tuesday at 5:40 a.m. CST (1140 GMT) and the National Hurricane Center reduced it to 'extratropical' status as its remnants crossed Florida, Alabama and Georgia Tuesday. Energy experts predicted that energy production operations that had been shut down ahead of the storm would return to normal by the end of Tuesday or early Wednesday... Energy companies had shut 29.6 percent of oil production and 27.5 percent of natural gas output in the Gulf of Mexico as of Monday as the storm spun through the region. At its peak, Ida had been a late-season Category 2 hurricane. The Gulf is the source of 25 percent of U.S. domestically produced oil and 15 percent of natural gas. About 40 percent of U.S. refining capacity is located on the Gulf Coast...
Read the full report at link below...
FACTBOX-Gulf of Mexico energy ops recovering from Ida
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> Also from Reuters today is this report...
Ida sloshes ashore, US Gulf oil operations recover
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* Bloomberg.com has this report... Crude oil fell as the dollar climbed against the currencies of major U.S. trading partners and as Tropical Depression Ida weakened... Oil dropped as much as 1.9 percent as the U.S. currency rose, curbing the appeal of commodities to investors. Ida’s sustained winds have dropped to 35 miles (56 kilometers) per hour from 45 mph earlier, the National Hurricane Center said on its Web site. Producers are preparing to resume operations...
Read the rest at link below...
Oil Falls as Dollar Rebounds, Tropical Depression Ida Weakens
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NOTE: I will be posting my lasted round of post on the Haynesville Shale, (‘#29- Haynesville Shale Updates’), late this week or earlier next.
Be sure to click it out!!!
AubreyJ.........
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