Oil and Gas Stock Roundup: The Calm Before the Storm
The oil market was relatively calm this week, though it did spend the latter part bracing for the impact of Hurricane Harvey, which is bearing down on the Gulf Coast. In fact, the industry has already proactively shut down about a quarter of the oil and gas output from the Gulf of Mexico, as well as several refineries. The biggest concern is that flooding might cause prolonged outages, which could impact oil demand and weigh on prices.
That said, while all eyes are on Harvey, there were a few notable news items that moved oil stocks this week. Those big movers, according to data from S&P Global Market Intelligence, were Seadrill Partners (NYSE: SDLP), Archrock (NYSE: AROC), and Sanchez Energy (NYSE: SN).
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Source: Fool.com
