Oil production in the Gulf of Mexico fell further on Tuesday as energy operations in the Gulf of Mexico pulled personnel from drilling rigs and platforms with Hurricane Sally moving toward the northern Gulf Coast. The Bureau of Safety and Environmental Enforcement estimates that 26.87% of Gulf oil production and 28.03% of natural-gas production has been shut in, as of Tuesday. That’s up from Gulf shut ins of 21.39% in oil output and 25.28% in natural-gas production on Monday. October West Texas Intermediate oil traded at $38.38 a barrel, up $1.12, or 3%, ahead of the settlement on the New York Mercantile Exchange. October natural gas was up 6.3 cents, or 2.7%, at $2.373 per million British thermal units.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
