Oil and Gas Stock Roundup: Putting Harvey in the Rearview Mirror
Last week all eyes were on Hurricane Harvey, which barreled through southeast Texas leaving destruction in its wake. The storm caused significant flooding at several refineries, but many have since restarted. As of yesterday, only 12.8% of the country's refining capacity was still offline due to the storm, a marked improvement from the more than 20% that shut down immediately following the hurricane. As a result, gasoline prices have started coming off their highs while oil has held steady.
The battered Gulf Coast appears to have been spared from a second hit as the powerful Hurricane Irma seems poised to turn into Florida. That, of course, is no solace for those who live in the Sunshine State as they brace for what could be a devastating impact. While the thoughts and prayers of the nation are with Florida, the market has quickly turned its heartless attention back toward other news, like company-specific developments. In fact, some of the biggest energy market movers, according to data from S&P Global Market Intelligence, were fueled by news-driven catalysts instead of by hurricane impacts.
Image source: Getty Images.
Source: Fool.com
