Is There A New Oil Spill In The Gulf?

The Wall Street Journal is reporting that the U.S. Coast Guard is investigating the possibility of a new oil spill in the Gulf of Mexico:

"The Coast Guard said in a news release that it received a report of a three-mile-long rainbow sheen off the Louisiana coast just before 9:30 a.m. local time on Saturday. Two subsequent sightings were relayed to the Coast Guard, the last of which reported a sheen that extended from about 6 miles south of Grand Isle, La. to 100 miles offshore."


We should know more later this morning, but it looks like the spill may be coming from an oil rig named the Matterhorn Seastar. Because the leak is located about 20 miles away from the site of the Deepwater Horizon disaster, there is speculation the slick could be coming from continuing issues with that site.


Monday should be a really good day for those who are invested in crude oil futures--not so good for those of us who drive cars though.