Sector Update: Energy Shares Firmer as Crude Tops $109 a Barrel

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NYMEX Benchmark Crude May: (+1.4%) to $109.66

Top Energy Stocks

XOM: +0.7%

CVX: +1.1%

COP: +0.8%

SLB: +0.7%

OXY: +0.9%

Energy shares are firmer ahead of the closing bell as crude oil futures finish a topsy turvy week on a positive note.

Light, sweet crude oil for May delivery finished up 1.4% to $109.66 a barrel. In other energy futures, heating oil was up 1.22% to $3.22 a gallon while natural gas was flat at $4.21 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1.09% to $43.75. The United States Natural Gas ETF ( UNG ) is down 0.36% to $11.03.

In late-session energy news, BP PLC ( BP ) shares are down as Bloomberg reports the British oil major won't be singled out for extra conditions when seeking to resume exploration in deep waters, according to a US drilling regulator.

The blowout of BP's Macondo well in the Gulf of Mexico last year caused the worst oil spill in US history.

BP shares are down 1.23%, or $0.56, to $44.98.

Meanwhile, Bronco Drilling ( BRNC ) is higher after its says it will be bought by Chesapeake Energy ( CHK ) for $11 per share cash, or approximately $315 million, including debt, net working capital and outstanding warrants.

Bronco shares are up 5.6%.



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: BP , BRNC , CHK , UNG , USO

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