Sector Update: Energy

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Energy shares have added to declines as crude oil futures tip to give up early gains to close below $78 a barrel. Light, sweet crude oil for November delivery finished down 2% to $77.61 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.03% to $29.87. The United States Natural Gas ETF ( UNG ) is down 1.5% to $8.87. In late-session energy news, shares of Exxon Mobil ( XOM ) are down as Reuters reports the oil major is increasing production rates at its Billings, Montana refinery after it was restarted. Meanwhile, Hercules Offshore ( HERO ) is down after it says the Starfish, a 140 class liftboat, capsized after being struck by multiple waterspouts late in the evening on Sept. 30.



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This article appears in: Investing , Commodities

Referenced Stocks: HERO , UNG , USO , XOM

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As of 10/20/2014, 01:45 PM

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