Sector Update: Energy Energy

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Energy shares traded mixed in pre-market trade Wednesday as crude oil futures were slightly higher.

Light, sweet crude oil for August delivery was up 0.36% at $106.41 per barrel. In other energy futures, heating oil was down 0.46% at $3.04 per gallon while natural gas was up 0.37% at $4.55 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.08% at $39.12. The United States Natural Gas ETF ( UNG ) was up 0.88% at $25.28.

In other energy news, Tesoro ( TSO ) said late Monday that it has entered into an agreement through which its Tesoro Logistics ( TLLP ) subsidiary will acquire terminalling and pipeline assets owned by Tesoro and two of its subsidiaries, Tesoro Refining & Marketing Company and Tesoro Alaska Company.

Under the terms of the deal, TLLP will acquire three marketing terminals, a storage facility and a refined products pipeline for $270 million. The assets are expected to contribute estimated additional annual EBITDA of $28 million.



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: USO , UNG , TSO , TLLP

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As of 11/21/2014, 04:15 PM

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