World Fuel Services shares fall after Quebec train wreck

Tue Jul 9, 2013 11:03am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 9 (Reuters) - Shares of World Fuel Services Corp fell for a second day on Tuesday after the company said crude oil sold by one of its units was being carried by railcars involved in the deadly train derailment in Lac-Megantic, Quebec over the weekend.

Shares of the Miami-based fuel distribution company, which has a market value of $2.84 billion, fell 3 percent to $37.38 on the New York Stock Exchange after a 6 percent drop on Monday.

Shares of Dakota Plains Holdings, a crude oil transportation and marketing company that has a partnership with affiliates of World Fuel, were down 16 percent at $2.12.

The runaway oil tanker train derailed in Lac-Megantic shortly after 1 a.m. on Saturday, exploding in a deadly ball of flames and killing at least 13 people.

The train was carrying crude from North Dakota to Irving Oil's refinery in Saint John, New Brunswick. (Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)