What Hurricane Harvey Means for Oil Stocks

Unprecedented rains and flooding from deadly Hurricane Harvey, which hit a number of Texas cities including Houston and Corpus Christi over the weekend, are still occurring. The extent of the damage is as yet unknown, but is expected to run into the tens of billions of dollars.

Obviously, the storm's effects on the stock market are of far less concern than its impact on its victims, and investors' financial worries pale in comparison to the tremendous losses many of the people of Texas are suffering right now. But as Harvey moves out of the area, it's important for investors to be prepared for what they will find in their portfolios as cleanup begins.

Let's look at the storm's impact on big Texas-based oil companies like ExxonMobil (NYSE: XOM), ConocoPhillips, HollyFrontier (NYSE: HFC), Apache Corporation (NYSE: APA), and Anadarko Petroleum (NYSE: APC).

Source: Fool.com