Oil spill

The U.S. Supreme Court on Monday rejected bids by BP Plc and Anadarko Petroleum Corp to avoid penalties under federal pollution law in connection with the 2010 Gulf of Mexico oil spill.

Last night we saw a surprise draw in crude oil (-404K) from the good folks at the API.

Brent crude is under pressure and WTI will be supported by a shutdown of the Houston Shipping channel, which is disrupting supply.
BP Plc must abide by terms of a $9.2 billion settlement it reached with victims of the 2010 Gulf of Mexico oil spill.
BP Plc, Transocean Ltd. and Halliburton Co. are seeking to avoid billions of dollars in damages by proving in court that mistakes leading to the 2010 Gulf of Mexico oil spill didn’t amount to gross negligence.
BP Plc appeared in federal court in New Orleans to answer U.S. charges brought over the 2010 Gulf of Mexico oil spill, entering a not guilty plea that won’t affect its $4 billion criminal settlement with the U.S.
BP Plc reached a settlement with the U.S. government for $4.5 billion that will end all criminal charges and resolve securities claims relating to the worst U.S. oil spill.
BP Plc said the U.S. government is withholding evidence that would show the oil spill from the Macondo well in the Gulf of Mexico was smaller than claimed.
Brazil’s oil regulator, ANP, has said that Chevron was not negligent in the drilling of a well the caused an offshore oil spill in November.
The U.S government issued their final report on the Gulf of Mexico oil spill, pinning most of the blame on BP, while also pointing to errors made by Halliburton and Transocean