Sector Update: Energy Shares Higher; Crude Oil Manages Modest Gains

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NYMEX Benchmark Crude September: (+0.17%) to $83.03

Top Energy Stocks

XOM: +3.6%

CVX: +2.6%

COP: +2.2%

SLB: +2.6%

OXY: +3.5%

Energy shares are higher in mid-day trading while crude oil futures are managing modest gains by the session's half, adding to a prior-session surge.

Light, sweet crude for September delivery traded up 4.5% to $82.89 a barrel. In other energy futures, heating oil is up 0.17% to $2.87 a gallon while natural gas is up 2.65% to $4.10 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 2.01% to $32.42. The United States Natural Gas ETF ( UNG ) is up 2.87% at $10.39.

In mid-day news, Teekay Corp. ( TK ) rises Q2 net loss, less items, was $0.51 per share on sales of $484.9 million. That is versus a loss of $0.36 per share on an adjusted basis a year ago.

Teekay shares are up 6.7%, or $1.45, to $23.27.

Meanwhile, shares of Exxon Mobil ( XOM ) are higher after shares were halted briefly. According to a MarketWatch report, the Nasdaq said the oil refiner's shares took a five minute break from trading.

The report questioned whether a trading glitch was responsible. FactSet reported that a trade of $63.47 would have been a near 7% drop in the stock.

Exxon shares are up 3.45%, or $2.35, to $70.38.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: TK , UNG , USO , XOM

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