Sector Update: Energy Shares Rise; Crude Futures Surge Above $100 a Barrel

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NYMEX Benchmark Crude June: (+3.61%) to $100.69

Top Energy Stocks

XOM: +0.3%

CVX: +0.8%

COP: +1.0%

SLB: +1.1%

OXY: +0.8%

Energy shares are higher as crude oil futures surge by nearly 4% to trade above $100 a barrel.

Light, sweet crude for June delivery is trading up 3.61% to $100.69 a barrel. In other energy futures, heating oil is up 2.76% to $2.92 a gallon while natural gas is up 0.78% to at $4.20 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 2.91% to $40. The United States Natural Gas ETF ( UNG ) is down 1.73% to $10.81.

In mid-day news, Dynegy Inc. ( DYN ) reported a swing to a Q1 net loss of $77 million, or $0.64 per diluted share, compared with net income of $145 million, or $1.20 per diluted share for Q1 2010.

DYN revenue fell to $505 million, from last year's $858 million, below analysts' estimate for a $534.62 revenue.

Shares are down 2.96% at $6.22.

Meanwhile, Sempra Energy ( SRE ) reported higher Q1 net income today of $258 million, or $1.07 per share, compared with the prior-year quarter's $106 million, or $0.42 per share.

Q1 earnings included a $96 million after-tax charge, or $0.38 per diluted share, due to a 2010 litigation settlement. Excluding this, the company's EPS increased 34%.

SRE revenues were down to $2.43 billion versus last year's $2.53 billion.

Shares are down 0.05% at $54.83.



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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: DYN , SRE , UNG , USO

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