Sector Update: Energy Shares Higher at Session's Half; Crude Trades Above $83 a Barrel


NYMEX Benchmark Crude November: (+2.72%) to $83.39

Top Energy Stocks

XOM: +2.6%

CVX: +2.7%

COP: +1.7%

SLB: +1.6%

OXY: +1.3%

Energy shares are higher in mid-day trading while crude oil futures surge nearly 3% to top $83 a barrel at the New York Mercantile Exchange

Light, sweet crude oil for November delivery is trading up 2.72% to $83.39 a barrel. In other energy futures, heating oil is up 1.28% to $2.85 a gallon while natural gas is down 1.58% to $3.73 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 2.62% to $32.07. The United States Natural Gas ETF ( UNG ) is down 0.86% to $9.20.

In mid-day news, Swift Energy ( SFY ) shares are down 7.5%, or $2.08, to $26.04 after the company said due to the failure of a third party operated gathering line earlier this week, Swift Energy has been required to halt dry natural gas sales from its Fasken field in Webb County, TX.

Gross natural gas sales volumes in the Fasken field were averaging approximately 40 million gross cubic feet per day before the failure occurred. Continued well productivity above initial expectations in this area led the company to recently raise its expected well recovery estimates to 10 billion cubic feet per well.

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: SFY , UNG , USO

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