Energy shares are gaining as crude oil futures jump nearly 2% on
concern over renewed unrest in Iran. Light, sweet crude oil for
April delivery is trading up $1.94, or 1.99%, to $98.92 a barrel.
In energy ETFs, the United States Oil Fund (
) is up 1.79% to $39.89. The United States Natural Gas ETF (
) is down 3.71% to $5.19. In mid-day news, Noble Energy, Inc. (
) has received an approved permit to resume drilling at the
Santiago prospect in the deepwater Gulf of Mexico. Well operations
were suspended in June 2010 as a result of the deepwater Gulf of
Mexico drilling moratorium. Santiago is a middle Miocene amplitude
prospect on Mississippi Canyon Block 519. Noble Energy is the
operator with a 23.25 percent working interest.
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