BP Curbs Gulf Production as Hurricane Isaias Shuts In 62.9% of Offshore Output

Hurricane Isaias has halted 1.28 million barrels per day of crude production in the Gulf of Mexico, with BP curbing output and evacuating personnel from its Na Kika and Thunder Horse platforms. The U.S. Marine Minerals Administration reported that shut-ins reached 62.89%, or approximately 62.9%, of Gulf crude output and 57.35% of natural gas production. The disruptions follow the evacuation of 121 manned platforms ahead of projected landfall along the northern Gulf Coast. Amid tightening physical supplies, WTI jumped roughly $4 per barrel and Brent climbed nearly $5.