Crude Oil Dropped As Output In The U.S. Gulf Of Mexico Resumed

Crude oil trading range for the day is 3790-4206.

Crude oil dropped as output in the U.S. Gulf of Mexico resumed after Hurricane Barry and as U.S. shale production is set to rise to a record.

Producers began restoring some of the roughly three-quarters of output that was shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry.

There was 1.3 million barrels per day of oil production offline in the U.S. waters of the Gulf of Mexico, about 80,000 barrels fewer than on Sunday.

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