Sector Update: Energy Shares Higher at Session's Half While Crude Futures Swing to Red

By Midnight Trader,  June 30, 2011, 01:22:41 PM EDT

NYMEX Benchmark Crude August: (-0.34%) to $94.48

Top Energy Stocks

XOM: +0.7%

CVX: +0.9%

COP: +1.0%

SLB: +0.9%

OXY: +0.8%

Energy shares are higher in mid-session trading as crude oil futures give up the high ground to turn lower.

Light, sweet crude oil for August delivery is trading down 0.34% to $34.48 a barrel. In other energy futures, heating oil was up 0.01% to $2.92 a gallon while natural gas was up 1.09% to $4.36 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 0.46% to $37.06. The United States Natural Gas ETF (UNG) is up 1.22% at $11.00.

In mid-day energy news, ADRs of BG Group ( BRGYY ) are firmly higher as Bloomberg reports that the UK's third-largest oil a gas producer doubled its estimate of reserves and resources in the Santos Basin in Brazil.

The refiner said that the fields there hold 6 billion barrels of oil with the potenital for as much as 8 billion, the report said.

BG ADRs are up 4.76%, or $5.18, to $114.01.




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.


This article appears in: Investing, Commodities

Referenced Stocks: BRGYY



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