Sector Update: Energy

By Staff,

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Energy shares are higher in mid-day trading while crude oil futures pared prior-session losses to trade above $87 a barrel. Light, sweet crude for September delivery is trading up $1.10 at $87.75 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.95% to $33.77. The United States Natural Gas ETF ( UNG ) is up 0.6% at $10. Crude supplies rose by 1.7 million barrels for the week ended Aug, 12, the American Petroleum Institute trade group reported late Tuesday. Gasoline inventories dropped by 5.4 million barrels. Distillate inventories fell 1.3 million barrels. In mid-day news, shares of Southern Union ( SUG ) are higher as the company gets affirmation from Williams ( WMB ) late Tuesday that it still wants to buy Southern Union for $44 per share in cash.

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: SUG , UNG , USO , WMB

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