Sector Update: Energy

By Staff,

Shutterstock photo

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.

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

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

This article appears in: Investing Commodities
Referenced Stocks: HERO , UNG , USO , XOM

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