Sector Update: Energy Lower, U.S. Appeals Federal Judge's Call Favoring Offshore Drilling

By
A A A

Dow Jones U.S. Oil & Gas Index: 458.55 Wednesday regular session close

NYMEX Benchmark Crude: -0.54 (-0.71%) to 75.81

Top Energy Stocks

XOM: -0.33%

CVX: -0.24%

SLB: -1.83%

OXY: -0.60%

COP: -0.41%

Energy issues are weaker pre-market, with oil prices falling on renewed concerns about how the European sovereign debt crisis will hurt global growth. The U.S. government has appealed the federal judge of New Orleans' call not to enforce the moratorium on deepwater drilling. In Russia, OAO Lukoil ( LKOH ) does not expect ConocoPhillips ( COP ) to completely sell out of the company despite the U.S. group's move to halve its stake in Lukoil, according to daily Kommersant. Conoco said it would halve its 20% stake in Lukoil within the next three years, but CEO Vagit Alekperov told the daily that it was unlikely that Conoco would sell off its remaining 10% shareholdings. PetroQuest Energy Inc ( PQ ) cut its production outlook for the second quarter due to unexpected shut-ins at two of its fields and the sale of stake in Woodford shale assets.



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.

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


This article appears in: Investing , Commodities

Referenced Stocks: COP , LKOH , PQ

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

85%
100%

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com