Sector Update: Energy

By Staff,

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Energy shares are weaker pre-market as oil prices drop on worries that Spain's financial concerns could spread across Europe and hurt global growth prospects. Ireland's Providence Resources ( PRR ) has decided not to go through with its plan to gain a 40% stake in Petronas assets at the Irish Kinsale Head gas fields as funding requirements to complete the deal increased. Tesoro ( TSO )reported a small hydrocarbon release from a line at its Los Angeles refinery. Brent crude has tumbled 3.1% to $69.00 a barrel on NYMEX.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: PRR , TSO

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