Sector Update: Energy Shares Gain Following Jobs Data; Crude Oil Rises

By Staff,

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NYMEX Benchmark Crude June: up 9 cents at $99.69

Top Energy Stocks

XOM: +1.7%

CVX: +1.7%

COP: +3.3%

SLB: +2.6%

OXY: +3.3%

Energy shares are higher in mid-day trading as crude oil futures rebound thanks to better-than-expected job data.

The U.S. economy gained 244,000 jobs in April, the biggest increase in almost a year and more than the 175,000 economists' expected.

Light, sweet crude oil for June delivery is off early highs and near even, up 9 cents at $99.69 a barrel. In other energy futures, heating oil is up 1.39% to $2.92 a gallon while natural gas is up 1.31% to at $4.31 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 2.85% to $40.37. The United States Natural Gas ETF ( UNG ) is up 1.73% to $11.18.

In mid-day news, shares of Tesco Corp. ( TESO ) are seeing some support after the petroleum industry services company said late Thursday Q1 net income was $0.13 per share, below the Thomson Reuters mean for $0.16. Sales were $105.6 million, below forecasts for $120 million.

Tesco shares are up 2.3%.

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: TESO , UNG , USO

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