Sector Update: Energy

By Staff,

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Energy shares are firmer ahead of the closing bell as crude oil futures finish a topsy turvy week on a positive note. Light, sweet crude oil for May delivery finished up 1.4% to $109.66 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.09% to $43.75. The United States Natural Gas ETF ( UNG ) is down 0.36% to $11.03. In late-session energy news, BP PLC ( BP ) shares are down as Bloomberg reports the British oil major won't be singled out for extra conditions when seeking to resume exploration in deep waters, according to a US drilling regulator. Meanwhile, 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 Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: BP , BRNC , CHK , UNG , USO

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