NYMEX Benchmark Crude November: (-1.2%) to $85.92
Top Energy Stocks
Energy shares are down in late-session trading as crude oil
futures finish in the red after the Federal Reserve announced it
would take additional economy-boosting measures.
Light, sweet crude oil for November delivery finished down 1.2%
to $85.92 a barrel. In other energy futures, heating oil was down
0.37% to $2.95 a gallon while natural gas was down 1.5% to $3.74
per million British thermal units.
In energy ETFs, the United States Oil Fund (
) is down 1.35% to $32.98. The United States Natural Gas ETF (
) is down 1.26% to $9.39.
The Federal Reserve today moved, as expected, to revive a
1960s-era program dubbed "Operation Twist" involving the sale of
short-term bonds and purchasing an equal amount of long-term bonds.
The Fed said the program will amount to $400 billion.
In late-session energy news, shares of Hercules Offshore (
) are down while Bloomberg reports the shallow-water driller said a
rig it is operating for a Chevron (
) subsidiary off the Angola coast will be out of service for six
There is damage to one of its legs, the report said.
Hercules shares are down 2.8%, or $0.11, to $3.82.
Meanwhile, shares of Apache Corp. (
) are higher as the company said it will pay $1.75 billion for
Exxon Mobil Corp.'s (XOM) U.K. North Sea assets, including the
Beryl field and associated properties.
In a statement, Apache said that at the end of 2010, the
properties had proved reserves estimated at 68 million barrels of
oil equivalent. The deal increases Apache's North Sea production by
54% and proved reserves by 44%. Apache said
it would fund the deal with cash on hand.
Apache shares are down 0.12%, or $0.11, to $94.41.