Sector Update: Energy Shares Mixed; Crude Oil Futures Back Off Highs but Remain Near $106 a Barrel

By Staff,

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NYMEX Benchmark Crude May: (+0.11%) to $105.86

Top Energy Stocks

XOM: +0.4%

CVX: +0.1%

COP: +1.7%

SLB: *-0.7%

OXY: -0.1%

Energy shares are mixed in mid-day trading but crude futures are logging additional gains with the May contract trading near $106 a barrel.

Light, sweet crude oil for April delivery traded up 0.11% to $105.86 a barrel. In other energy futures, heating oil was up 0.1% to $3.06 a gallon while natural gas was down 2.1% to $4.24 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.4% to $42.28. The United States Natural Gas ETF ( UNG ) is down 2.07% to $11.33.

In mid-day energy news, Plains Exploration & Production ( PXP ) shares are higher and Reuters reports that the company said its planned sale of its deepwater assets in the Gulf of Mexico would be delayed as the current regulatory environment deters buyers.

Plains Exploration shares are up 1.21%, or $0.43, to $35.99.

Also, China Sunergy Co., Ltd. ( CSUN ) is up 10.35% to $4.37 shortly after the market open, after posting positive Q4 results. The company posted quarterly revenue of $169.6 mln, up about 74% from the year ago quarter. Earnings were $0.37, up from a year ago loss of $0.09.

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: CSUN , PXP , UNG , USO

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