Referenced Stocks

Sector Update: Energy Shares Trade Higher as Equities Turn Around; Crude Finishes Down

By MT Newswires October 20, 2011, 03:14:15 PM EDT

NYMEX Benchmark Crude November: (-0.9%) to $85.30

Top Energy Stocks

XOM: +0.5%

CVX: +1.1%

COP: +1.1%

SLB: +0.4%

OXY: +0.9%

Energy shares finish trading higher as crude oil futures end in the red but well off session lows.

Light, sweet crude oil for November delivery finished down 0.9% to $85.30 a barrel. In other energy futures, heating oil was up 0.6% to $2.99 a gallon while natural gas was up 1.56% to $3.64 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1.17% to $32.92. The United States Natural Gas ETF ( UNG ) is up 0.29% to $8.79.

In late-session energy news, shares of Exxon Mobil ( XOM ) are down as Reuters reports that the company's Mobile Bay, Ala. natural gas operations have resumed about a month after a water-pipe leak shuttered the operation.

The move came after a sheen was seen on the surface of the water. The pipe has been fixed.

Exxon shares are up 0.57%, or $0.44, to $78.92.

Natural gas futures gained after a new report showed inventories rose 103 billion cubic feet for the week ended Oct. 14.

Meanwhile, Noble Energy ( NBL ) shares are higher after the company reported third quarter EPS of $1.24, topping estimates for $1.00. Revenue increased 22.4% from the previous year period to $924 mln, just missing the Street view of $926.73 mln.

Noble Energy shares are up 3.14% to $86.78.




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: NBL, UNG, USO, XOM



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