CL Redux

http://www.marketwatch.com/story/oil-futures-extend-rebound-in-electronic-trading-2012-06-24

Oil traders were also monitoring the path of Tropical Storm Debby as it hovered in the Gulf of Mexico.

The National Hurricane Center reported Debby was gaining strength on Sunday, hitting the northeastern Gulf coast — a key oil-drilling area — with high winds and heavy rain.

The projected path of the 2012 hurricane season’s fourth named storm remained uncertain.
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Tropical Storm Debby strengthens in Gulf of Mexico


http://www.nhc.noaa.gov/refresh/graphics_at4+shtml/210418.shtml?5-daynl

Tropical Storm Debby stalls in Gulf of Mexico, lashing nearby states

http://www.cnn.com/2012/06/25/us/tropical-weather/index.html

One of them, Shell, said Sunday that it had evacuated 360 staff the previous day and was planning further evacuations. ExxonMobil said it has "evacuated nonessential personnel" from its offshore facilities and is preparing to evacuate the rest.

And BP spokesman Brett Clanton said Sunday evening that the company has evacuated the "majority of our offshore personnel in the Gulf of Mexico" due to Debby. "Those unable to be evacuated will shelter in place for the storm," he said.
 
http://www.marketwatch.com/story/oi...c-trading-2012-06-24?link=MW_home_latest_news

<b>The storm has resulted in precautionary closures of oil and gas platforms, which affected about 23% of the U.S. oil and gas production in the Gulf of Mexico, analysts at Commerzbank said in a note. </b>

“That said, it is doubtful whether this will be sufficient to trigger a trend reversal in oil prices, for these supply outages are merely temporary in nature and the supply surplus is still considerable,” the analysts said. “All that would help long term would be a cut in production by OPEC, and by Saudi Arabia in particular.”

Other energy products were mixed, with gasoline and natural gas up and heating oil posting losses. July natural gas NGN12 +3.31% rose 9 cents, or 3.4%, to $2.71 per million British thermal units, and gasoline for the same month’s delivery RBN2 +1.56% added 4 cents, or 1.7%, to $2.61 per gallon.
 
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