Why Scorpio Tankers Stock Dropped Today
Rumors that the Strait of Hormuz might reopen in a week are driving tanker stocks lower.
Overview
Scorpio Tankers (NYSE: STNG) stock is on a roll. Shares of the oil tanker operator, which owns 90 tankers of various shapes and sizes, gained as much as 11% in the first two weeks of September. It's giving back some of those gains today -- down 2.6% through 10 a.m. ET.
But why was Scorpio up in the first place?
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.