Sector Update: Energy Shares Mixed as Crude Finishes Lower for the Day, Week

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NYMEX Benchmark Crude January: -$0.58 (-0.68%) to $87.79

Top Energy Stocks

XOM: -0.1%


CVX: -0.1%

COP: -0.2%

SLB: +0.6%

OXY: +2.04%

Energy shares are mixed in late-session trading as crude futures dip below $88 a barrel and end lower for the week.

Crude oil for January delivery finished down $0.58, or 0.68%, to $87.79 a barrel. In other energy futures, heating oil was down 0.45% to $2.45 a gallon while natural gas fell 0.5%, to $4.41 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.76% to $37.65. The United States Natural Gas ETF ( UNG ) is down 0.61% to $6.06.

The U.S Dollar Index (DXY) is up 0.03% to $80.09.

The International Energy Agency this morning lifted its forecast for global oil demand for 2010 and 2011. The IEA sees stronger-than-expected consumption in North America and emerging Asian countries, especially China, which could bring OPEC countries under pressure to boost supplies next year.

The Paris-based agency estimates global demand will rise to 88.8 million barrels a day next year, about 260,000 barrels more than previous guidance. It also hiked its 2010 estimate to 87.4 million barrels a day, up 130,000 daily barrels.

In late-session energy news, solar shares rise after Senate negotiators approved extending grants to U.S. wind and solar power companies for one year, Bloomberg reports.

First Solar ( FSLR ) was last up 3.14%, SunPower ( SPWRA ) up 6.8% and Ascent Solar Technologies ( ASTI ) up 6.5%.

Meanwhile, Fuel Systems Solutions Inc. (FSYS) was up after pricing 2 million shares at $30.00 each.

Fuel Systems Solutions shares are up 1.8% to $32.19.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: ASTI , FSLR , SPWRA , UNG , USO

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As of 12/22/2014, 04:15 PM


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