Referenced Stocks

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

By Midnight Trader,  April 15, 2011, 03:52:53 PM EDT

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.


This article appears in: Investing, Commodities

Referenced Stocks: BP, BRNC, CHK, UNG, USO



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