NYMEX Benchmark Crude July: (+2.1%) to $99.37
Top Energy Stocks
Energy shares are higher as the last hour of the regular session
gets underway and crude oil futures gain over 2%, helped in part,
by mixed economic data.
The Commerce Department released data this morning showing US
retail sales fell 0.2% last month to $387.1 billion, according to
the Commerce Department this morning. The data showed the first
decline after 11 straight months of gains. But figures still topped
economists' call for total sales to fall 0.7% in May, according to
a MarketWatch. Without a 2.9% drop in motor vehicle sales, retail
sales increased 0.3%.
Light, sweet crude oil for July delivery finished up 2.1% to
$99.37 a barrel. In other energy futures, heating oil was up 0.27%
to $3.11 a gallon while natural gas was down 1.61% to $4.57 per
million British thermal units.
In energy ETFs, the United States Oil Fund (USO) is up 2.3% to
$39.14. The United States Natural Gas ETF (UNG) is down 1.19% at
In late-session energy news, BreitBurn Energy Partners (
), an independent oil and gas partnership, today announced signing
a definitive agreement towards the acquisition of oil properties in
Niobrara County, Wyoming for $58.1 mln subject to customary closing
conditions and purchase price adjustments from the effective date
of July 1.
Said assets have a production profile of 500 Boe/day of 100%
oil. The acquisition is anticipated to conclude by Q3 of 2011.
BreitBurn Energy Partners shares are up 2.4% to $20.69.
Meanwhile, Cloud Peak Energy (
), a U.S. coal producer, today, announced an agreement with
Westshore Terminals LP to permit coal shipments through the
Westshore Terminal in Vancouver, BC for ten years. CLD exported 3.3
mln tons to Asian customers in 2010 through the terminal.
The contract will commence in 2013 once the current contract
ends, pending a definitive agreement between the parties.
CLD shares are up 5.0% to $20.49 on the NYSE.