Energy shares are higher in late trading as crude oil futures
manage to climb and close above $108 a barrel. Light, sweet crude
oil for May delivery finished up 1% to $108.15 a barrel. In energy
ETFs, the United States Oil Fund (
) is up 0.3% to $42.99. The United States Natural Gas ETF (
) is up 3.06% to $11.13. In late-session energy news, BP plc (
) shares are higher as Russia's Rosneft announced a share buyback
as the company moves toward a $16 billion share swap deal, Reuters
reports. Meanwhile, Kodiak Oil & Gas (
) says it is negotiating to contract a fourth rig for delivery in
Q4. It controls a 40% to 50% working interest in wells being
drilled by a non-operated drilling rig as part of its Dunn County,
N.D. area of mutual interest with ExxonMobil (
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