East Coast Oil Facilities Shut Down Ahead of Sandy: Energy Biz Wrap
Ahead of a possible impact from Sandy, Phillips 66 (NYSE:PSX) began Sunday to shut down its 238,000 barrels-per-day Bayway refinery in New Jersey. Meanwhile, Philadelphia Energy Solutions (NYSE:CG)(NYSE:SUN), Hess Corporation (NYSE:HES), and PBF Energy have also initiated production reductions at refineries lying in the storm’s projected path. Additionally, Phillips 66 has temporarily closed oil terminals, as pipelines such as Buckeye Partners (NYSE:BPL) and Colonial have been readying their contingency plans.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>