Sector Update: Energy Shares Mixed as Crude Futures Close Below $100 a Barrel


NYMEX Benchmark Crude June: (-1.7%) to $99.17

Top Energy Stocks

XOM: +0.1%

CVX: +0.5%

COP: +0.5%

SLB: -0.7%

OXY: -1.8%

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 ( USO ) is down 1.11% to $39.06. The United States Natural Gas ETF ( UNG ) 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 said.

Shall ADRs are up 0.39%, or $0.27, to $70.31.

Meanwhile, Sinotech Energy ( CTE ), 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 $2.6 mln.

GAAP diluted earnings per ADS was $0.17, higher than the Thomson Reuters expectation for $0.13, which typically exclude special items.

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.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CTE , UNG , USO

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