(By Oil & Gas 360) – The first phase of the energy shock moved prices. The second reshaped flows. The third is now redirecting capital. The new energy shock, Part 3: Where capital moves next- oil and gas 360 As volatility moves from crude into refined products and logistics, investors are beginning to reposition, not around headline oil prices, but around where the system is tightening most. That shift is already visible. Refiners are emerging as near-term beneficiaries. Elevated crack spreads, particul ...