Sector Update: Energy Up as Oil Gains; BP Shares Rebounding from Steep Drop

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Dow Jones U.S. Oil & Gas Index: 440.27 Wednesday regular session close

NYMEX Benchmark Crude: +0.28 (+0.38%) to 74.55

Top Energy Stocks

XOM: +1.03%

CVX: +0.86%

SLB: +2.22%

OXY: 0.00%

COP: +0.95%

Energy shares are up before the bell, as oil prices climb following a rise in Asian and European equities. Yesterday, BP ( BP ) tumbled to its lowest level in 13 years in London trade as the company continues to battle Gulf of Mexico spill, for which costs are now estimated to be over $1.4 billion by BP. Some analysts at investment banks have estimated that figure to be multiple times more than that figure. BP shares are higher in U.S. pre-market trade. North American Energy Partners ( NOA ) reported first quarter results that disappointed analysts, as earnings were hurt by lower volumes in its piling segment, coupled with higher administrative costs.



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This article appears in: Investing , Commodities

Referenced Stocks: BP , NOA

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