Sector Update: Energy


Energy shares are broadly higher in mid-day trading as crude futures move over the $88 mark in a good day for commodities. Crude oil for January delivery traded up $0.41, or 0.47%, at $88.19 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.44% to $37.83. The United States Natural Gas ETF ( UNG ) is down 0.82% to $6.04. In sector news, General Electric ( GE ) is just lower after announcing plans to buy British oil services company Wellstream for $1.3 billion, two months after a lower offer from GE was rejected. Also, W&T Offshore ( WTI ) is higher after its Board declared a special cash dividend of $0.66 per share, payable to the holders of the Corporation's common shares. The special dividend will be payable on Dec. 29 to shareholders of record on Dec. 21.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: GE , UNG , USO , WTI

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