Sector Update: Energy Shares Broadly Lower; Crude Slips Below $98 a Barrel

By Staff,

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NYMEX Benchmark Crude January: (-$1.48) to $97.94

Top Energy Stocks

XOM: -2.2%

CVX: -2.2%

COP: -2.6%

SLB: -4.1%

OXY: -3.5%

Energy shares are broadly lower while crude oil futures slide to trade down below $98 a barrel.

Light, sweet crude oil for January delivery traded down $1.48 to $97.93 a barrel.

FuelCell Energy ( FCEL ) was up 14.7% after earlier announcing a partnership agreement with Spanish conglomerate Abengoa S.A. to develop localized stationary fuel cell power plants for markets in Europe and Latin America.

Meanwhile, shares of ConocoPhillips ( COP ) are down while Reuters reports the U.S. oil major made a find of natural gas in the southern North Sea but that further tests are needed to determine if it is worth developing.

COP shares are down 2.6%

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: COP , FCEL

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