Sector Update: Energy

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Energy shares were mixed in pre-market trade Tuesday as crude oil futures dropped.

Light, sweet crude oil for August delivery was down 0.63% at $100.27 per barrel. In other energy futures, heating oil was flat at $2.86 per gallon while natural gas was down 0.48% at $4.13 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 1.10% at $36.91. The United States Natural Gas ETF ( UNG ) was down 0.48% at $22.78.

In other energy news, Miller Energy Resources ( MILL ) has reported an increase in net loss for Q4 2014 and fiscal 2014, primarily associated with debt refinancing and changes in the fair value of derivatives resulting from an increase in commodity prices.

The company reported a net loss of $17.2 million, or $0.38 per diluted share for Q4, wider than the loss of $0.14 predicted by analysts, if comparable, and the net loss of $13.1 million, or $0.31 per diluted share for Q4 2013. The company reported a loss of $41.8 million, or $0.94 per diluted share, for fiscal 2014 compared to a net loss of $25.5 million, or $0.60 per diluted share for fiscal 2013.



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: USO , UNG , MILL

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