Sector Update: Energy

By Staff,

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Energy shares are fairly flat in pre-market, while crude oil futures are higher.

Light, sweet crude oil for January delivery is trading up $0.02 at $97.24 per barrel. In other energy futures, heating oil is up $0.01 at $2.97 per gallon while natural gas is up $0.02 at $4.30 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is flat at $34.87. The United States Natural Gas ETF ( UNG ) is up 0.6% at $21.05.

In other energy news, Syntroleum Corp ( SYNM ) is soaring 47% in pre-market after accepting a buyout offer worth up to $49 million for substantially all of its assets from Renewable Energy Group Inc. ( REGI )

The deal calls on REGI to is issue 3.796 million shares of its common stock to SYNM in exchange for its 50% stake in a 75-million gallon renewable diesel facility in Geismar, La., as well as its patent portfolio of gas-to-liquids and renewable diesel fuel technologies.

REGI is up 3.6% at $10.94, very close to its 52-week high of $11.07.

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: REGI , SYNM , UNG , USO

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