Sector Update: Energy

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Energy shares are broadly lower as the equities market swings to red in late trading. Crude futures finished below $82 a barrel. Light, sweet crude oil for November delivery finished down 3.8% to $81.21 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.86% to $31.44. The United States Natural Gas ETF ( UNG ) is down 1.79% to $9.34. In late-session energy news, shares of Kodiak Oil & Gas Corp. ( KOG ) are down as the company said it would pay $235 million for both undeveloped leases and producing properties in the Williston Basin, MarketWatch reported. Meanwhile, shares of Chevron ( CVX ) are higher as Reuters reported that the U.S. oil major said it had resumed operations on its Main Pass crude oil gathering system in the U.S. Gulf of Mexico coast.



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: CVX , KOG , UNG , USO

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79,329,227
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74,153,988
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49,177,672
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44,802,614
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43,197,735
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42,704,187
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As of 10/31/2014, 04:15 PM

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