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Thomson Reuters: August 30 Energy Commentary

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August 30, 2012

Thursday, August 30, 2012


Energy stocks accelerated their losses in the final minutes of the session. E&Ps and oil services suffered the steepest declines despite little EPS impact from Isaac.  Refiners were the lone oil and gas sub-industry to experience gains on widening crack spreads and as gasoline rallied in California and Chicago due to refinery fires there.  Meanwhile, Phillips 66 noted flooding at a refinery in Louisiana but otherwise Isaac now poses little threat to most Gulf region energy infrastructure after weakening to a tropical storm and ...

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