Sector Update: Energy Shares Broadly Lower With Equities; Crude Ends Below $82 a Barrel

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NYMEX Benchmark Crude November: (-3.8%) to $81.21

Top Energy Stocks

XOM: -0.4%

CVX: -0.6%

COP: -0.7%

SLB: -3.8%

OXY: -3.5%

Energy shares are broadly lower as the equities market swings to red in late trading. Crude futures finished below $82 a barrel.

Light, sweet crude oil for November delivery finished down 3.8% to $81.21 a barrel. In other energy futures, heating oil was down 1.73% to $2.82 a gallon while natural gas was down 1.96% to $3.75 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 2.86% to $31.44. The United States Natural Gas ETF ( UNG ) is down 1.79% to $9.34.

In late-session energy news, shares of Kodiak Oil & Gas Corp. ( KOG ) are down as the company said it would pay $235 million for both undeveloped leases and producing properties in the Williston Basin, MarketWatch reported.

KOG will purchase 13,500 acres that are mostly located in Williams County, ND.

KOG shares are down 5.9%, or $0.34, to $5.41.

Meanwhile, shares of Chevron ( CVX ) are higher as Reuters reported that the U.S. oil major said it had resumed operations on its Main Pass crude oil gathering system in the U.S. Gulf of Mexico coast.

The system had been shut down earlier this month after the discovery of a leak.

Chevron shares are down 0.48%, or $0.45, to $93.08.



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: CVX , KOG , UNG , USO

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