Sector Update: Energy Shares Higher; May Crude Gets Lift to Trade Above $108 a Barrel

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NYMEX Benchmark Crude May: (+1.44%) to $109.67

Top Energy Stocks

XOM: +1.0%

CVX: +1.2%

COP: +1.3%

SLB: +0.8%

OXY: +0.8%

Energy shares are higher as the May oil contract was seeing firm support in trading at the New York Mercantile Exchange.

Light, sweet crude oil for May delivery traded up 0.9% to $108.11 a barrel. In other energy futures, heating oil was up 1.37% to $3.23 a gallon while natural gas was down 0.17% to $4.20 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1.2% to $43.80. The United States Natural Gas ETF ( UNG ) is down 0.54% to $11.00.

In mid-day news, Bronco Drilling ( BRNC ) is higher after its says it will be bought by Chesapeake Energy ( CHK ) for $11 per share cash, or approximately $315 million, including debt, net working capital and outstanding warrants.

Bronco shares are up 5.7%.

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) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
Referenced Symbols: BRNC , CHK , UNG , USO

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