Sector Update: Energy Shares Higher; Crude Futures Jump More Than 3%

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NYMEX Benchmark Crude December: (+3.28%) to $90.27

Top Energy Stocks

XOM: +0.01%

CVX: +0.8%

COP: +0.2%

SLB: +3.3%

OXY: +1.3%

Energy shares are higher in mid-day trading as crude oil futures rally with equities to trade at more than $90 a barrel.

Light, sweet crude for December delivery is trading up 3.28% to $90.27 a barrel. In other energy futures, heating oil is up 0.79% to $3.04 a gallon while natural gas is down 0.36% to $3.61 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 3.16% to $34.92. The United States Natural Gas ETF ( UNG ) is down 0.96% to $8.73.

In mid-day news, Entergy ( ETR ) said today that it has signed an agreement with a subsidiary of NextEra Energy ( NEE ) to acquire the Rhode Island State Energy Center, a 550-megawatt power plant located in Johnston, RI, for $346 million.

The transaction is expected to close in late 2011.

Entergy shares are down 0.37% to $68.23.

Meanwhile, SemGroup ( SEMG ) has jumped 18.85% to $28 a share after Plains All American Pipeline (PAA) disclosed today that on Oct. 6 it submitted a proposal to SemGroup to acquire all of the outstanding shares of SemGroup for $24 per share in cash.

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) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
Referenced Symbols: ETR , NEE , SEMG , UNG , USO

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