Sector Update: Energy Shares Broadly Lower; Crude Futures Fall Below $79 a Barrel

By
A A A

NYMEX Benchmark Crude November: (-0.57%) to $78.71

Top Energy Stocks

XOM: -0.4%

CVX: -1.6%

COP: -2.2%

SLB: -0.9%

OXY: -1.5%

Energy shares are broadly lower as crude oil futures - which had held the high ground for much of the first half of the day - succumbed to downward pressure to trade below $79 a barrel.

Light, sweet crude for November delivery traded down 0.57% to $78.71 a barrel. In other energy futures, heating oil is down 0.27% to $2.77 a gallon while natural gas is down 0.44% to $3.65 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.89% to $30.22. The United States Natural Gas ETF ( UNG ) is down 1.17% to $8.90.

In mid-day energy news, Hercules Offshore ( HERO ) is down after it says the Starfish, a 140 class liftboat, capsized after being struck by multiple waterspouts late in the evening on Sept. 30.

It is insured for damage to the Starfish up to the insured value of $2.5 million, subject to a $1 million deductible. The deductible does not apply in the event the vessel is a total loss. HERO says it also carries removal of wreck insurance, subject to a $250,000 deductible.

Hercules Offshore shares are down 9.62%, or $0.28, to $2.63.



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: HERO , UNG , USO

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

113,590,482
  • $14.98 ▼ 1.77%
57,689,941
  • $94.67 ▼ 0.37%
51,501,990
  • $3.31 ▼ 2.07%
46,645,770
  • $96.13 ▲ 0.55%
42,212,567
  • $72.36 ▼ 0.40%
39,428,076
  • $25.35 ▲ 0.80%
36,799,747
    $37 unch
36,459,390
  • $44.13 ▼ 2.35%
As of 8/1/2014, 04:03 PM