NYMEX Benchmark Crude June: (-1.7%) to $99.17
Top Energy Stocks
Energy shares are mixed as the last hour of the regular session
gets underway with crude futures closing below $100 a barrel.
Light, sweet crude oil for June delivery finished down 1.7% to
$99.17 a barrel. In other energy futures, heating oil was up 0.04%
to $2.90 a gallon while natural gas was down 2.22% to at $4.10 per
million British thermal units.
In energy ETFs, the United States Oil Fund (
) is down 1.11% to $39.06. The United States Natural Gas ETF (
) is down 2.22% at $10.59.
In late-session energy news, ADRs of Royal Dutch Shell (RDS.A)
are higher as Bloomberg reports that a $19 billion investment in
Qatar of the world's largest gas-to-liquids plant could convert
natural gas from shale rock across the United States into diesel
and jet fuel.
The technology in the Qatar plant could be used on a smaller
scale in the US if capital costs can be lowered, the report
Shall ADRs are up 0.39%, or $0.27, to $70.31.
Meanwhile, Sinotech Energy (
), a provider of enhanced oil recovery services in China, today
reported Q2 net income of $10.9 mln versus last year's net loss of
GAAP diluted earnings per ADS was $0.17, higher than the Thomson
Reuters expectation for $0.13, which typically exclude special
Sinotech also saw sales improve by 201.5% to $25 mln over last
year's $8.29 mln. The company also upgraded its FY 2011 guidance
for sales to be within the range of $100 mln to $105 mln.
Shares are 2.0% higher at $5.50.
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