Wilma, after devastating Mexico's Yucatan peninsula, spared oil and natural gas production areas in the Gulf Coast on Sunday. The 22nd named tropical storm, the record-breaking Alpha, posed no danger to Gulf oil facilities as it soaked Haiti and the Dominican Republic, before weakening.
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Wilma Passed Over Oil Facilities, Crude Price Tumbled
Oil dropped below $60 to a near three-month low on Monday
Oil dropped below $60 to a near three-month low on Monday after Hurricane Wilma passed over the U.S. oil and gas facilities in the Gulf of Mexico.
U.S. light crude futures plunged to $59.76 a barrel, the lowest since July 28 on the NYMEX.
Meanwhile, London Brent crude lost 51 cents to $57.97 a barrel on the IPE.
Wilma, after devastating Mexico's Yucatan peninsula, spared oil and natural gas production areas in the Gulf Coast on Sunday. The 22nd named tropical storm, the record-breaking Alpha, posed no danger to Gulf oil facilities as it soaked Haiti and the Dominican Republic, before weakening.
Wilma, after devastating Mexico's Yucatan peninsula, spared oil and natural gas production areas in the Gulf Coast on Sunday. The 22nd named tropical storm, the record-breaking Alpha, posed no danger to Gulf oil facilities as it soaked Haiti and the Dominican Republic, before weakening.
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