Gulf of Mexico producers have shut-in ~25% of daily oil production and ~8% of natural gas...

|By:, SA News Editor

Gulf of Mexico producers have shut-in ~25% of daily oil production and ~8% of natural gas production due to tropical storm Isaac; that's ~333,815 bbl/day of oil and 371MMcf of natural gas. The Gulf accounts for 23% of U.S. crude production and 7% of nat gas, and more than 40% of U.S. refining capacity is contained in facilities located along the Gulf Coast. WTI crude +1.1% to $97.22.