|Day Low/High||46.68 / 48.08|
|52 Wk Low/High||20.65 / 61.57|
Stable crude prices could provide a favorable environment for equities that benefit from higher oil prices, such as Occidental Petroleum and EOG Resources.
These names are showing bullish or bearish reversal patterns over the past week.
Goldman Sachs has an attractive view of North American majors and refiners in spite of some headwinds.
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The move comes as U.S. gasoline prices skyrocketed Thursday morning due to an East Coast pipeline shutdown by the nation's largest gasoline transporter, Colonial Pipeline Co.
More than 2.2 million barrels per day of U.S. refining capacity was offline due to Hurricane Harvey.
While shut-in crude oil production is good for commodity prices, shut-in refineries will lead to a surplus of product and a lack of demand for electricity won't help.
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