Sector Update: Energy; Shares Higher as Crude Holds Just Below $100 a Barrel

By Staff,

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Energy issues are higher this morning with crude oil futures gaining but holding below $100 a barrel after briefly pushing above that mark earlier today. Natural gas futures this morning fell below $3 per million British thermal units although the February contract was last trading at 3.013, down 1.4 cents. February heating oil futures are about 3 cents higher at $2.95 per gallon.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.4%. The United States Natural Gas ETF ( UNG ) is down 1.4% and has hit new year lows.

In company news, Es-Sider, Libya's largest oil port is close to restarting loadings, lifting what has been a critical hurdle in the way of a return to normal exports since the end of the Libyan civil war, the country's oil chief said Thursday. Among the firms likely first to benefit are ConocoPhilips ( COP ), Hess ( HES ) and Marathon ( MRO ), The Wall Street Journal reports.

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: COP , HES , MRO , UNG , USO

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