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

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NYMEX Benchmark Crude June: -0.93% to $99.17 a barrel

Top Energy Stocks

XOM: +0.5%

CVX: +1.2%

COP: +0.8%

SLB: -0.1%

OXY: -1.1%

Energy shares are mixed in mid-day trading as crude oil futures slip below $100 a barrel at the New York Mercantile Exchange.

Light, sweet crude for June delivery is trading down 0.93% to $99.17 a barrel. In other energy futures, heating oil is down 0.03% to $2.90 a gallon while natural gas is down 1.52% at $4.13 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.58% to $39.27. The United States Natural Gas ETF ( UNG ) is down 1.48% at $10.67.

In mid-day news, 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 4.82% higher at $5.65.



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: CTE , UNG , USO

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