Energy Stocks Slightly Lower Near Close; Clean Energy, GE Finance Teaming Up to Promote Diesel-to-Natural-Gas Conversion

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Top Energy Stocks

XOM -0.43%

CVX +0.09%

COP -0.57%

SLB -1.11%

OXY -1.20%

Energy stocks are slightly lower with the NYSE Energy Sector Index sinking 0.6% while shares of energy companies in the S&P 500 are down 0.3% as a group. Crude oil for November delivery settled $1.40 lower at $99.72 per barrel while November natural gas was down 9 cents to $3.67 per 1 million BTU.

In company news, Clean Energy Fuels Corp. ( CLNE ) is finishing about 3.4% higher at $11.87 a share, earlier advancing as high as $12.25 after announcing a strategic alliance with the transportation finance division of General Electric's ( GE ) GE Capital unit to accelerate the conversion of heavy-duty trucking fleets from diesel to natural gas.

Under the alliance, truck-fleet operators will first work with CLNE to develop natural-gas-fueling contracts, and will then apply for loans and leases from GE Capital to acquire trucks from manufacturers. CLNE also will help offset the monthly cost of newly acquired natural-gas vehicles to make it consistent with the cost of a diesel truck.

In other sector news,

(+) XTXI, Together with Crosstex Energy LP ( XTEX ) and Devon Energy ( DVN ) agreed to combine substantially all of their midstream assets throughout the United States.

(-) HAL, Q3 revenue climbs 5% year over year to $7.47 bln, trailing estimates by $20 mln. EPS of $0.83 is up from a $0.65 per share profit during the year-ago period, also beating the FactSet consensus by a penny.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: CLNE , DVN , GE , XTEX

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