Gulf Buoy Inertial Oscillations
Gulf Buoy track is being dominated by Inertial Oscillations. If you aren't familiar with this phenomenon, see http://faculty.washington.edu/luanne/pages/ocean420/notes/inertial.pdf.
Quick explanation is that these loops are not currents. The dominant current is toward the SE. The loops are due to circular movement of the entire ocean in that area. If there was a nearby buoy, it would not be following the other buoy, but instead moving in parallel loops. Mindblowing to think about!