Sector Update: Energy Shares Rise as Crude Futures Top $100 a Barrel


NYMEX Benchmark Crude April: +$2.72 (+2.82%) to $100.73

Top Energy Stocks

XOM: +1.9%

CVX: +2.6%

COP: +4.1%

SLB: +4.7%

OXY: +2.1%

Energy shares are higher in mid-day trading as crude oil futures top $100 a barrel.

Light, sweet crude oil for April delivery is trading up 2.82%, or $2.72 to $100.73 a barrel. In other energy futures, heating oil is up 1.87% to $3.05 a gallon while natural gas is down 4.44% to $4.11 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 2.45% to $40.65. The United States Natural Gas ETF ( UNG ) is up 4.16% to $10.95.

In mid-day news, Wabash National ( WNC ) announced today that it has entered into an exclusive, five-year agreement to manufacture frac tanks for Indiana-based Sabre Manufacturing. WNC will be investing about $2.5 million and adding up to 200 jobs to support the new manufacturing initiative.

Frac tanks are bulk liquid storage containers used by fluid management companies in the environmental services, and oil and gas industries.

Production of approximately 300 units in 2011 will take place in WNC's South Campus in Lafayette, Ind., and is set to begin next month. Over the next five years, more than 2,500 units is expected to be produced.

Shares are up 5.95% to $11.04.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: UNG , USO , WNC

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