NYMEX Benchmark Crude August: (+$1.24) to $95.41
Top Energy Stocks
Energy shares are mixed in late trading while crude oil futures
surge to finish above $95 a barrel.
The Energy Information Administration said crude oil stockpiles
fell 1.7 million barrels for the week ended June 17. That decline
was bigger than the 81,000-barrel fall reported by the American
Petroleum Institute late yesterday.
Light, sweet crude oil for August delivery finished up $1.24 to
$95.41 a barrel. In other energy futures, heating oil was up 2.57%
to $2.88 a gallon while natural gas was down 1.23% to $4.33 per
million British thermal units.
In energy ETFs, the United States Oil Fund (USO) is up 1.55% to
$37.34. The United States Natural Gas ETF (UNG) is down 1.97% at
In late-session energy news, oil company, Cenovus Energy Inc (
) today announced that it is temporarily shutting about 5,000 to
8,000 barrels per day of oil production from its Weyburn field
wells in Saskatchewan due to flooding, according to a Reuters
The company may close as much as one-third of the wells in the
27,000 barrel-per-day field, added the report, citing Rhona
DelFrari who is the spokeswoman for Cenovus.
CVE shares are up 0.38%, or $0.13, to $34.20.
Meanwhile, Transocean (RIG) is higher after it blamed BP (
) in an incident where one of RIG's oil rigs exploded and sank in
the Gulf of Mexico last year, leading to a major oil spill.
It said BP failed to properly assess the risks around the
troubled well and did not communicate the danger to RIG. BP also
used a poor well design which led to the failure of cement around
the well casing, allowing gas to escape and reach the rig, the
Transocean shares are up 0.78% to $62.37.