Referenced Stocks

Sector Update: Energy Shares Mixed; Crude Slips to Trade Below $100 a Barrel

By Midnight Trader,  June 02, 2011, 01:31:46 PM EDT

NYMEX Benchmark Crude July: (-2.4%) to $100.29

Top Energy Stocks

XOM: -1.1%

CVX: -1.3%

COP: -0.5%

SLB: +1.0%

OXY: +0.3%

Energy shares are mixed while crude oil futures add to prior-session losses to trade below $100 a barrel.

Light, sweet crude for July delivery is trading down 0.97% to $99.32 a barrel. In other energy futures, heating oil is down 0.03% to $3.00 a gallon while natural gas is up 3.33% to $4.78 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 0.61% to $39.28. The United States Natural Gas ETF (UNG) is up 2.93% at $12.10.

In mid-day news, Occidental Petroleum (OXY) shares are higher as the oil major, along with Total ( TOT ) and Hess ( HES ), halt production in Libya. The moves comes in response to unrest in that country, Bloomberg reports.

Occidental does not expect output from that country in the second quarter and employees have been withdrawn, the report says.

Occidental shares are up 0.38%, or $0.32, to $104.05.




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.


This article appears in: Investing, Commodities

Referenced Stocks: HES, TOT



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