Sector Update: Energy Shares Higher in Late Trading; Crude Futures Finish Above $90

By Staff,

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NYMEX Benchmark Crude October: (+2.23%) to $90.21

Top Energy Stocks

XOM: +0.03%

CVX: +0.4%

COP: +1.6%

SLB: +0.4%

OXY: +1.6%

Energy shares are higher as the last hour of the regular session gets underway and crude futures managed their first finish above $90 a barrel in over a month.

Light, sweet crude oil for October delivery finished up 2.3% to $90.21 a barrel. In other energy futures, heating oil was down 0.35% to $2.93 a gallon while natural gas was up 2.37% to $3.97 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1.58% to $34.97. The United States Natural Gas ETF ( UNG ) is up 1.98% to $10.03.

In late-session energy news, shares of Chevron ( CVX ) are down while Reuters reports that the oil major shut a crude oil pipeline off the Louisiana coast after a leak related to equipment failure.

The report cited a filing made with the National Response Center.

Chevron shares are up 0.07%, or $0.07, to $95.90.

Also, Hercules Offshore ( HERO ) said Tuesday that it has acquired an additional 6.1 million shares of Discovery Offshore S.A., a company focused on the ownership of high-specification jackup rigs, at an average price of NOK 9.02 per share, or $1.62 per share, according to recent exchange rates.

With this latest purchase, HERO has invested a total of $34.1 million in Discovery Offshore, and now holds a 28% ownership interest in the company.

Shares are down 2.99% to $3.90.

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: CVX , HERO , UNG , USO

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