Sector Update: Energy

By Staff,

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Energy issues are lower before the bell as oil prices fall amid concerns about U.S. crude stockpiles. Total SA ( TOT ) too is down over 1% pre-market on the NYSE even though France's oil refinery workers agreed to go back to work at three of the country's 12 refineries. Energy Minister Jean-Louis Borloo said that 80% of the country's service stations should be back in business Wednesday. Royal Dutch Shell plc (RDSA) will sell its Finnish and Swedish operations to Finland's privately held St1 for $640 million. St1 produces biofuel and runs gas stations across Scandinavia and currently purchases some of its oil from Norway's Statoil ASA ( STL ) and ExxonMobil Corp ( XOM ). Brent crude is down 0.9% at $82.94 a barrel on NYMEX.

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

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This article appears in: Investing Commodities
Referenced Stocks: STL , TOT , XOM

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