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| Version 0 | Version 1 |
|---|---|
| Oil prices calm despite hurricane | Oil prices calm despite hurricane |
| (about 4 hours later) | |
| Global oil prices have fallen in Tuesday trading on relief that Hurricane Dean is likely to miss key US platforms in the Gulf of Mexico. | Global oil prices have fallen in Tuesday trading on relief that Hurricane Dean is likely to miss key US platforms in the Gulf of Mexico. |
| The storm is on target to hit Mexico, but the International Energy Agency said any damage to Mexican rigs should not effect the global oil market. | The storm is on target to hit Mexico, but the International Energy Agency said any damage to Mexican rigs should not effect the global oil market. |
| US light, sweet crude fell $1.72 to $69.40 - a level not seen since July - while Brent was down $1.34 to $68.51. | |
| Mexican energy firms have shut down all production in the Gulf of Mexico. | Mexican energy firms have shut down all production in the Gulf of Mexico. |
| The market is sensing that most oil production facilities will be spared Phil Flynn, Alaron | The market is sensing that most oil production facilities will be spared Phil Flynn, Alaron |
| The main state-owned Petroleos Mexicanos said it had evacuated more than 18,000 workers. | The main state-owned Petroleos Mexicanos said it had evacuated more than 18,000 workers. |
| This has resulted in a loss of production of 2.7 million barrels of oil, and 2.6 billion cubic feet of natural gas per day. | This has resulted in a loss of production of 2.7 million barrels of oil, and 2.6 billion cubic feet of natural gas per day. |
| Emergency supplies | Emergency supplies |
| The US government said it was prepared to make emergency withdrawals from the nation's Strategic Petroleum Reserve to offset any loss from Mexico, which supplies 13% of US imports. | The US government said it was prepared to make emergency withdrawals from the nation's Strategic Petroleum Reserve to offset any loss from Mexico, which supplies 13% of US imports. |
| "Hurricane Dean has been making tracks but the latest track shows his fury might miss key US oil producing and refining areas," said Phil Flynn, analyst at financial house Alaron. | "Hurricane Dean has been making tracks but the latest track shows his fury might miss key US oil producing and refining areas," said Phil Flynn, analyst at financial house Alaron. |
| "Obviously these storms can make unexpected twists and turns but as of now the market is sensing that most oil production facilities will be spared." | "Obviously these storms can make unexpected twists and turns but as of now the market is sensing that most oil production facilities will be spared." |
| The International Energy Agency represents the world's 26 main oil consuming nations. | The International Energy Agency represents the world's 26 main oil consuming nations. |