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 Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: TK , UNG , USO , XOM

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