Sector Update: Energy

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Energy shares are higher to end the week as crude oil futures made gains topping 1% to finish above $97 a barrel. Light, sweet crude oil for August delivery finished up 1.6% to $97.24 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.22% to $37.50. The United States Natural Gas ETF ( UNG ) is up 0.09% at $11.03. In late-session energy news, US-traded shares of White Rock, British Columbia-based Realm Energy International ( RLMXF ) were tipping higher as Reuters reports it will explore and develop the Paris Basin in France with ConocoPhillips ( COP ). Meanwhile, Lucas Energy, Inc. ( LEI ) is up more than 6% to $2.88 today after the company announced that it had had gross production in May 2011 of nearly 8,000 bbls of oil and more than 4.6 MMCF of natural gas.



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This article appears in: Investing , Commodities

Referenced Stocks: COP , LEI , RLMXF , UNG , USO

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