Oil Spill Dumped 26,000 Barrels in Gulf of Mexico

(Bloomberg) -- The US Coast Guard is still trying to find the source of an oil leak estimated to have dumped 26,000 barrels of crude oil — enough to fill two Olympic-size swimming pools — into the Gulf of Mexico off the coast of Louisiana. 

Remotely-operated vehicles continue to survey a pipeline operated by Main Pass Oil Gathering Company, close to where the discharge took place, near Plaquemines Parish, southeast of New Orleans. The leak was discovered Thursday at 6:30 a.m., prompting Main Pass to shut its line that transports crude from fields in the Gulf of Mexico to the coast. 

Skimming ships are working to recover oil on the surface. There have been no reported injuries or shoreline impact. Main Pass declined to comment and redirected inquiries to the Coast Guard. 

News of the spill triggered a jump in prices of Heavy Louisiana Sweet oil produced in the area. On Monday prices traded at a premium of $2.70 to benchmark West Texas Intermediate oil, the highest premium since August, according to Link Data Services.

(Updates prices in last paragraph.)

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