Energy shares are higher in late-session trading while crude oil
futures end with gains topping 4%. Light, sweet crude oil for
November delivery finished up 4.4% to $91.27 a barrel. In energy
ETFs, the United States Oil Fund (
) is up 4.49% to $35.37. The United States Natural Gas ETF (
) is down 1.19% to $8.71. In late-session energy news, Chevron (
) shares are higher as Bizjournals.com reports that the oil major
has begun producing natural gas at its Platong II project in the
Gulf of Thailand - a $3.1 billion project. Meanwhile, SemGroup (
) has jumped 16.98% to $27.56 a share after Plains All American
) disclosed today that on October 6, 2011 it submitted a proposal
to SemGroup to acquire all of the outstanding shares of SemGroup
for $24.00 per share in cash.
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