Energy Higher as Traders See More Harvey-Related Shortages -- Energy Roundup

Features Dow Jones Newswires

Shares of energy producers rose amid signs that shortages of energy commodities caused by Hurricane Harvey could persist.

Continue Reading Below

The outages in refineries along the coast of the Gulf of Mexico has reduced demand for crude oil in the short term, but some traders expect a rapid return to full capacity.

"There's a lot of doom and gloom out there about their ability to come back from this, but in my experience, they come back a lot more quickly than people realize," said John Kilduff, founding partner at Again Capital. "The anxiety yesterday hit a crescendo and today we're seeing it get dialed back."

On the demand side, there have been shortages of gasoline in North Texas as reports of outages have produced lines outside stations and stockpiling.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

Continue Reading Below

September 01, 2017 17:07 ET (21:07 GMT)