Brent Crude Under $113 as Isaac Approaches
Even as Tropical Storm Isaac heads into the Gulf of Mexico and forces companies to halt U.S. oil production there, Brent crude remained steady below $113 a barrel. Brent went as high as $115.50 on Monday as U.S. refiners shut…
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Brent went as high as $115.50 on Monday as U.S. refiners shut facilities on the Gulf Coast ahead of the storm, but it ended the day at $112.26. It rose only slightly this morning, while U.S. crude is around $96.
Energy companies have already slashed crude production by 78% in the Gulf of Mexico, and shut-ins are expected to increase over the next few days. The region accounts for nearly a quarter of U.S. oil output, as well as 7% of its natural gas output.
Isaac is expected to make landfall late Tuesday near southeastern Louisiana. It is also expected to be a Category 1 or Category 2 hurricane by then.
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.
