Sector Update: Energy Shares Trending Higher as Crude Futures Manage to Remain Just Higher

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NYMEX Benchmark Crude December: +$0.02 (+0.03%) to $87.09

Top Energy Stocks

XOM: +1.4%

CVX: -1.1%

COP: +0.3%

SLB: +0.6%

OXY: +0.4%

Energy shares are higher in mid-day trading as a combination of higher crude prices and M&A news buoyed stocks in the sector.

Crude oil for December delivery traded up 0.03%, or $0.02, to $87.09 a barrel. In other energy futures, heating oil is up 0.73% to $2.41 a gallon while natural gas rose 1.35%, to $4.14 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.4% to $37.68. The United States Natural Gas ETF ( UNG ) is up 1.57% to $5.99.

In mid-day energy sector news, Chevron Corp ( CVX ) is off session lows but still in the red following news the oil major plans to buy Atlas Energy Inc ( ATLS ) for $4.3 billion.

Chevron will pay $43.34 a share for Atlas, which marks a 37% premium over the company's closing price Monday. The deal will bolster Chevron's stake in the Marcellus shale fields.

Chevron shares are down 1.12%, or $0.95, to $83.86. Atlas shares are up 33.64% to $42.39 in mid-day trading.



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: ATLS , CVX , UNG , USO

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