While BP (NYSE:BP) finally saw an increase, other U.S. stock shares and crude oil trading continues to fall, including Royal Dutch Shell (LSE:RDSA) and Exxon Mobil (NYSE:XOM), sliding from a prior seven week high. Causing the Standard and Poors 500 to drop again, this is the fifth time in six days.
The S&P saw another decline of 0.1 percent to 1,074.57, while the energy shares among S&P tumbled 1.3 percent as a group - this being the highest loss among 10 industries. While the Dow Jones Industrial average also slide losing 0.1 percent or 5.29 point to 10,138.52. Crude oil fell below $78 a barrel in New York, this is due to slow economic growth concerns that this may reduce demand.
Exxon Mobil dropped 1.39 percent to $57.65. While Royal Dutch Shell saw a decline of 2.9 percent to $49.56, and BP saw a gain of 0.96 percent to 27.31.
Meanwhile, many are watching with worry and anticipation as Alex continues it's course towards the Gulf as swells are already reaching it. It is expected to turn into a hurricane and the force of the storm is already causing evacuations on several of the oil rigs. Air Logistics, an offshore helicopter company has been evacuating Gulf workers in the Western Gulf of Mexico.
Shell is planning on shutting down production today on their rigs in the central and Western Gulf. Exxon has also started the process of evacuation from the offshore facilities that are expected to be in the path of Alex.
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