BP announces Thunder Horse production delay

Crude oil prices were mixed on Tuesday, as Brent crude gained on the news that BP will have to delay the launch of production at its Thunder Horse facility in the Gulf of Mexico but West Texas Intermediate was slightly lower in the middle of the trading day.  The news of the delay was seen as much more significant than BP’s earlier pipeline problems in Prudhoe Bay, Alaska.

November delivery Brent added 18 cents to $64.23 per barrel in London, while WTI October contracts were down 3 cents to $63.77 per barrel on the New York Mercantile Exchange.  With October WTI closing at the end of trade Wednesday, November delivery WTI dropped 5 cents to $64.40 per barrel.