MARKET TALK: BP Spill Makes Storm-Related Shut-Ins More Likely

1st Jul 2010 17:35

[Dow Jones] Hurricane Alex "will cast a longer shadow than most seasons' first storms," Peter Beutel, president of the energy advisory firm Cameron Hanover, says, noting that the BP PLC (BP, BP.LN) oil spill in the U.S. Gulf of Mexico has put a spotlight on producers in the U.S. Gulf. He notes that producers there are more likely to shut in oil and gas output as a precautionary measure. "We should expect to lose more output this summer than was originally supposed," Beutel says. ([email protected]) Contact us at 713-547-9201 (END) Dow Jones Newswires July 01, 2010 12:35 ET (16:35 GMT)