Sector Update: Energy

By Staff,

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Energy shares are higher as crude oil futures find upside momentum after starting the week lower. Light, sweet crude for August delivery is trading up 1.29% to $96.42 a barrel. In energy ETFs, the United States Oil Fund (USO) is up 1.42% to $37.82. The United States Natural Gas ETF (UNG) is up 1.11% at $10.90. In mid-day news, Northland reportedly upgraded Clean Energy ( CLNE ) to "outperform" from "market perform." The firm cited Chesapeake Energy's ( CHK ) $150M investment in the company to help fund the development of a national LNG fueling station network. Meanwhile, Evergreen Solar ( ESLR ) said in a SEC filing late Monday it is still trying to restructure its debt, but warns that to significantly deleverage its balance sheet, any restructuring will involve very significant or complete dilution to the company's existing stockholders.

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: CHK , CLNE , ESLR

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