Sector Update: Energy Shares Higher in Late-Session Trading; Crude Closes Above $108 a Barrel

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NYMEX Benchmark Crude May: (+1%) to $108.15

Top Energy Stocks

XOM: +0.9%

CVX: +0.9%

COP: +0.8%

SLB: +1.7%

OXY: +1.7%

Energy shares are higher in late trading as crude oil futures manage to climb and close above $108 a barrel.

Light, sweet crude oil for May delivery finished up 1% to $108.15 a barrel. In other energy futures, heating oil was down 0.65% to $3.16 a gallon while natural gas was up 2.71% at $4.25 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.3% to $42.99. The United States Natural Gas ETF ( UNG ) is up 3.06% to $11.13.

In late-session energy news, BP plc ( BP ) shares are higher as Russia's Rosneft announced a share buyback as the company moves toward a $16 billion share swap deal, Reuters reports.

Rosneft said it will begin with $100 million to $200 million in shares in the coming months.

BP shares are up 0.47%.

Meanwhile, Kodiak Oil & Gas ( KOG ) says it is negotiating to contract a fourth rig for delivery in Q4.

It controls a 40% to 50% working interest in wells being drilled by a non-operated drilling rig as part of its Dunn County, N.D. area of mutual interest with ExxonMobil ( XOM ).

Kodiak shares are up 9.3%.



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.

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


This article appears in: Investing , Commodities

Referenced Stocks: BP , KOG , UNG , USO , XOM

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