Sector Update: Energy

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Energy shares are higher in mid-day trading as crude oil futures near $89 a barrel and General Electric ( GE ) wins a $500 million oilfield services contract. Crude oil for January delivery is trading up $0.24, or 0.27%, to $88.80 a barrel. In ETFs, the United States Oil Fund ( USO ) is up 0.55% to $38.10. The United States Natural Gas ETF ( UNG ) is down 2.73% to $5.89. The U.S Dollar Index (DXY) is down 0.06% to $79.24. In sector news, shares of General Electric are higher after the company won a $500-million services and equipment contract from Saudi Aramco for a project that will increase oil production from that country's Shaybah oil deposit. Meanwhile, shares of Yingli Green Energy ( YGE ) are higher after the company announced before the market opened that it has entered into a three-year sales contract with S.A.G. Solarstrom AG, a manufacturer, independent developer and system integrator in the solar power and solar investment market in Europe.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: GE , UNG , USO , YGE

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As of 8/29/2014, 04:04 PM

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