Sector Update: Energy

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Energy shares are higher as the May oil contract sees firm support in trading at the New York Mercantile Exchange. Light, sweet crude oil for May delivery is trading up 0.9% to $108.11 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.2% to $43.80. The United States Natural Gas ETF ( UNG ) is down 0.54% to $11.00. In mid-day news, Bronco Drilling ( BRNC ) is higher after its says it will be bought by Chesapeake Energy ( CHK ) for $11 per share cash, or approximately $315 million, including debt, net working capital and outstanding warrants.



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: BRNC , CHK , UNG , USO

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