Question Regarding West Texas vs. Brent Spread

[Alchemist]

From the NY Times:

"The Minerals Management Service said Tuesday that the evacuation of some rigs and platforms in the Gulf of Mexico had resulted in the loss of almost 50,000 barrels of oil per day, the equivalent of 3 percent of daily production of 1.5 million barrels per day."

Interestingly that is how much the spread increased, about 3%.

 

[BlueHorseshoe]

Quote from Alchemist:

From the NY Times:

"The Minerals Management Service said Tuesday that the evacuation of some rigs and platforms in the Gulf of Mexico had resulted in the loss of almost 50,000 barrels of oil per day, the equivalent of 3 percent of daily production of 1.5 million barrels per day."

Interestingly that is how much the spread increased, about 3%.

Actually, I think that number has been updated to 10% - and the spread has widened more for Hurricane Dennis, which is still on the way, than for Cindy, which has already passed.