Sector Update: Energy

By Staff,

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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 ( USO ) is up 1.79% to $39.89. The United States Natural Gas ETF ( UNG ) is down 3.71% to $5.19. In mid-day news, Noble Energy, Inc. ( NBL ) 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.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: NBL , UNG , USO

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