Sector Update: Energy Shares Gain in Late Trading as Crude Futures Close Above $100 a Barrel

By Staff,

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NYMEX Benchmark Crude April: +$3.44 (+3.5%) to $101.42

Top Energy Stocks

XOM: +1.9%

CVX: +2.6%

COP: +4.1%

SLB: +4.7%

OXY: +2.1%

Energy shares are higher in late trading as crude futures finish above $100 a barrel.

Light, sweet crude oil for April delivery finished up 3.5%, or $3.44 to $101.42 a barrel. In other energy futures, heating oil was up 1.31% to $3.05 a gallon while natural gas was down 0.15% to $3.93 per million British thermal units.

In metal ETFs, SPDR Gold Trust ( GLD ) is up 0.04% to $136.33. Market Vectors Gold Miners ( GDX ) is down 1.86% to $55.43. iShares Silver Trust ( SLV ) is down 0.62% to $33.40.

In late-session energy news, shares of Quicksilver Energy ( KWK ) are slipping more than 4% after members of the Darden family announced that they had determined not to further pursue a take private transaction of Quicksilver resources at this time.

Quicksilver Energy shares are down 4.1%, or $0.60, to $13.99.

Meanwhile, Wabash National ( WNC ) announced today that it has entered into an exclusive, five-year agreement to manufacture frac tanks for Indiana-based Sabre Manufacturing. WNC will be investing about $2.5 million and adding up to 200 jobs to support the new manufacturing initiative.

Frac tanks are bulk liquid storage containers used by fluid management companies in the environmental services, and oil and gas industries.

Production of approximately 300 units in 2011 will take place in WNC's South Campus in Lafayette, Ind., and is set to begin next month. Over the next five years, more than 2,500 units is expected to be produced.

Shares are up 5.95% to $11.04.

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: GDX , GLD , KWK , SLV , WNC

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