- Crude prices are steadying as U.S. oil companies begin restoring some of the nearly 74% of production that was shut in the Gulf of Mexico ahead of Hurricane Barry.
- There were 1.3M barrels per day of oil production offline in the Gulf on Monday, about 80,000 barrels fewer than on Sunday, according to the U.S. Bureau of Safety and Environmental Enforcement.
- Among those returning staff to the more than 280 production platforms that had been evacuated include Anadarko Petroleum (NYSE:APC), BHP (NYSE:BHP), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) and Royal Dutch Shell (RDS.A, RDS.B).
- Crude futures -0.2% to $59.48/bbl.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, NRGD, NRGO, NRGU, NRGZ, OILD, OILU, USAI, YGRN