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

By Staff,

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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 Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: NBL , UNG , USO

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