Sector Update: Energy Shares Higher Along With Crude Futures; November Contract Finishes Above $80


NYMEX Benchmark Crude November: (+0.5%) to $80.24

Top Energy Stocks

XOM: +2.2%

CVX: -0.1%

COP: +0.9%

SLB: +0.6%

OXY: +3.5%

Energy shares are higher in a volatile session while crude oil futures managed to keep the high ground to finish above $80 a barrel.

Light, sweet crude oil for November delivery finished up 0.5% to $80.24 a barrel. In other energy futures, heating oil was down 0.07% to $2.79 a gallon while natural gas was up 2.24% to $3.78 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.32% to $31.19. The United States Natural Gas ETF ( UNG ) is up 2.25% to $9.44.

In late-session energy news, shares of Chevron ( CVX ) are down as Bloomberg reports the company will make a final decision in 2013 about how much more it will invest in a move to add as much as 6 billion barrels of crude reserves to an oil field shares by Kuwait and Saudi Arabia.

Chevron is moving forward on a pilot project to inject steam into the Wafra field after seeing early promising results, the report said.

Chevron shares are up 0.1% or $0.09, to $90.10.

Meanwhile, Tortoise Energy Infrastructure ( TYG ) is reportedly upgraded to Outperform from Neutral at Robert W. Baird. The firm set a price target of $41.

Tortoise Energy shares are down 0.9%.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CVX , TYG , UNG , USO

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