Part of the Gulf Stream , the Loop Current is a warm ocean current in the Gulf of Mexico that flows northward between Cuba and the YucatÃ n Peninsula , moves north into the Gulf of Mexico , loops west and south before exiting to the east through the Florida Straits . A parent to the Florida Current , the Loop Current is a warm ocean current in the Gulf of Mexico that flows northward between Cuba and the YucatÃ n peninsula , moves north into the Gulf of Mexico , loops west and south before exiting to the east through the Florida Straits and joining the Gulf Stream .