Energy shares are higher in mid-day trading while crude oil
futures maintained positive territory into the close to end just
below $99 a barrel. Light, sweet crude oil for December delivery
finished up 1.2% to $98.99 a barrel. In energy ETFs, the United
States Oil Fund (
) is up 0.98% to $38.09. The United States Natural Gas ETF (
) is down 0.96% to $8.28. In late-session energy news, ADRs of
China Petroleum & Chemical (
) - known as Sinopec - are higher while Bloomberg reports that the
refiner agreed to purchase a 30% stake in Galp Energia's unit in
Brazil. The investment is Sinopec's second in offshore oil fields
there in two years, the report said. Meanwhile, shares of Exxon
) are higher while the oil major reportedly signed a deal to
explore for oil in Kurdistan, according to a MarketWatch
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