The amount of oil that “spills” every 24 hours can produce enough gasoline for me to drive my car around the equator approximately 648 times – every day.
So far, I’m looking at over 8,400 trips through today.
At a leakage rate of 210,000 gallons of oil per day, that’s the equivalent of 5,000 barrels, or 5 NYMEX Light Crude futures contracts worth of physical.
Since April 22, that has equated to 65 contracts worth of physical.