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

By Staff,

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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 Nasdaq, 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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