As Tropical storm Harvey continues to batter the Gulf Coast of Texas and Louisiana, it is also wreaking havoc on energy stocks for the third straight session.
Depressed oil prices have resulted in a two-year decline in oil prices, which has also affected energy stocks. Production disruptions from the hub of U.S. drilling and refining operations in the Gulf Coast would usually result in a rise in oil prices, but oil prices continued to fall Wednesday.
Industry standard Brent crude was down 48 cents to $51.52 while West Texas crude prices were down 30 cents to $46.14.
Anadarko Petroleum Corp. (APC) - Get Report shares were down 0.76% to $40.40 per share. Cimarex Energy Co. (XEC) - Get Report shares were down 0.63% to $97.75. Houston-based Apache Corp. (APA) - Get Report was down 0.8% to $38.56.
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