Top Energy Stocks
Energy shares are mostly higher. The Obama administration
rejected TransCanada Corp.'s (
) Keystone XL pipeline, Bloomberg News reports, citing two people
familiar with the matter. The decision will be announced later
today or tomorrow with the administration letting TransCanada
submit a new application for an alternate pipeline route, said
another person familiar with the administration's plans.
The NYSE Energy Sector Index is up 0.6% this afternoon.
Light, sweet crude oil for February delivery is trading 24 cents
lower at $100.53 a barrel, after trading slightly higher most of
the morning. In other energy futures, heating oil is up $0.03 at
$3.01 a gallon while natural gas is down $1.2 cents at $2.47 per
million British thermal units.
In energy ETFs, the United States Oil Fund (
) is down 0.62% at $38.55. The United States Natural Gas ETF (
) is also is 0.2% at $5.36.
In company news, Hess (
) is up about 1% after saying it expects to take a $525 million
after-tax charge against its Q4 earnings following the upcoming
closure of its HOVENSA refinery in St. Croix, U.S. Virgin Islands.
The refinery is a joint venture between the company and Petroleos
de Venezuela S.A. HES said the facility lost a total $1.3 billion
over the past three years.
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