Sector Update: Energy

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Energy shares are mostly lower as crude futures--which had seemed poised to hit $92 a barrel--backed off to close at $91 amid a lackluster session for equities. Crude oil for February delivery finished down $0.51, or 0.6%, to $91 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 0.67% to $38.72. The United States Natural Gas ETF ( UNG ) is up 0.36% to $5.63. The U.S Dollar Index (DXY) is down 0.23% to $80.31. In energy sector news, FX Energy ( FXEN ) is down sharply after it said Thursday in a SEC filing it entered into an At-The-Market Issuance Sales Agreement with McNicoll, Lewis & Vlak LLC, in which FXEN could issue and sell common stock having aggregate sales proceeds of up to $50 million from time to time through MLV acting as agent. Elsewhere, PostRock Energy ( PSTR ) is just off session highs in late trading after it says it will sell to Magnum Hunter Resources ( MHR ) certain assets in Wetzel and Lewis Counties, W. Va, for $39.75 million.



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This article appears in: Investing , Commodities

Referenced Stocks: FXEN , MHR , PSTR , UNG , USO

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