Oil companies have begun returning workers to drilling rigs and production platforms in the Gulf of Mexico.
Offshore sites in the gulf were abandoned as the storm that became
Hurricane Isaac approached. As of Friday, more than 94 percent of the
daily oil production in the Gulf had been shut in. But production is
expected to ramp up soon. Companies began redeploying workers Friday and
updated production figures are expected Saturday afternoon.
BP said an initial aerial inspection showed no significant damage to
offshore facilities. Crews Saturday are taking a closer look as those
facilities are repopulated.
The federal Bureau of Ocean Energy Management says that, when Isaac
was approaching, 499 of 596 oil and gas production platforms were
evacuated, as were 48 of 76 rigs that were drilling for oil or gas in
the Gulf.
A surge in gasoline prices accompanied Isaac, although the dramatic
increases came to an end Friday as the storm moved farther inland. The
national average price for gasoline inched up just 0.3 cents Friday to
$3.83 per gallon.
Crude has traded between $94 and $97 per barrel for two weeks, after rising from a low near $77 in late June.
On Friday U.S benchmark crude rose $1.85 to end at $96.47 per barrel
after Federal Reserve Chairman Ben Bernanke made clear in a speech that
the central bank will do more to revive the U.S. economy.
Brent Crude, which is used to price oil used by many U.S. refiners, rose $1.92 to $114.57 per barrel.
Source: NBC News
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