Referenced Stocks

Sector Update: Energy Shares Down; Crude Futures Slip While Natural Gas Gains

By Midnight Trader,  October 20, 2011, 12:29:50 PM EDT

NYMEX Benchmark Crude December: (-$1.04) to $85.07

Top Energy Stocks

XOM: -0.1%

CVX: +0.2%

COP: +0.4%

SLB: -1.0%

OXY: -0.3%

Energy shares are down in mid-day trading as crude futures slip to near $85 a barrel while natural gas futures gain.

Light, sweet crude for December delivery is trading down $1.04 to $85.07 a barrel. In other energy futures, heating oil is up 0.51% to $2.99 a gallon while natural gas is up 3.12% to $3.69 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1.41% to $32.84. The United States Natural Gas ETF ( UNG ) is up 1.65% to $8.91.

Natural gas futures gained after a new report showed inventories rose 103 billion cubic feet for the week ended Oct. 14, less than a gain of 109 bcf to 113 bcf forecast by analysts polled by Platts.

In mid-day energy news, Noble Energy ( NBL ) shares are higher after the company reported third quarter EPS of $1.24, topping estimates for $1.00. Revenue increased 22.4% from the previous year period to $924 mln, just missing the Street view of $926.73 mln.

Noble Energy shares are up 2.28% to $86.06.




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.


This article appears in: Investing, Commodities

Referenced Stocks: NBL, UNG, USO



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