Sector Update: Energy Shares Slump as Crude Plunges Over 4%

By Staff,

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NYMEX Benchmark Crude August: (-4.6%) to $91.07

Top Energy Stocks

XOM: -3.1%

CVX: -3.2%

COP: -2.2%

SLB: -2.9%

OXY: -3.6%

Energy shares are slumping in mid-day trading as crude oil futures plunge to trade near $91 a barrel at the New York Mercantile Exchange.

Light, sweet crude for August delivery traded down 4.6% to $91.07 a barrel. In other energy futures, heating oil is down 5.33% to $2.79 a gallon while natural gas is down 3.08% to $4.18 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 3.61% to $35.76. The United States Natural Gas ETF (UNG) is down 3.19% at $10.61.

In mid-day energy news, Orion Energy Systems ( OESX ) is reportedly initiated with an Outperform at Rodman & Renshaw. The firm's price target is $6.

Orion Energy shares are flat at $3.91.

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: OESX

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