Sector Update: Energy

By Staff,

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Energy shares are higher in mid-day trading while crude oil futures are managing modest gains, adding to a prior-session surge. Light, sweet crude for September delivery traded up 4.5% to $82.89 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 2.01% to $32.42. The United States Natural Gas ETF ( UNG ) is up 2.87% at $10.39. In mid-day news, Teekay Corp. ( TK ) rises Q2 net loss, less items, was $0.51 per share on sales of $484.9 million. That is versus a loss of $0.36 per share on an adjusted basis a year ago. Meanwhile, shares of Exxon Mobil ( XOM ) are higher after shares were halted briefly. According to a MarketWatch report, the Nasdaq said the oil refiner's shares took a five minute break from trading.

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: TK , UNG , USO , XOM

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