This article found in the Wall Street Journal discusses the up and down, but mostly down, trend of the oil industry over the past few months. It states that gas prices have fallen in eight consecutive sessions to an 11 month low and that very little experts see it rising anytime soon.
The article also shows the influence the climate has on the energy and gas industry. As word of a tropical storm comes around, gas prices and demands rise. Some speculate that this short-term rise could be the rally needed to lift the market, seeing as some data suggests that this trend will continue into October.
Seeing that there might be opportunity for the gas industry to have success in the upcoming months is important for the businesses so that they can begin planning on how to maximize the success.
Also mentioned, the storm is endangering 11% of the US gas production companies. Globalization here helps the US to still attain oil by other means. Although they are able to attain it, if the 11% of companies take a hit from the storm, gas prices will most likely rise again.
-Nicole Lombardo
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