Sector Update: Energy

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Energy shares are mostly higher in late-session trading as crude surges on a weaker dollar and positive movement from equities. Crude oil for January delivery finished up $1.25, or 1.4%, to $88.00 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.5% to $37.74. The United States Natural Gas ETF ( UNG ) is up 1.1% to $5.95. In late-session energy news, Longwei Petroleum ( LPH ) is up after it says it won annual contracts with two new customers for its Gujiao petroleum storage facility representing sales of 19,000 metric tons of petroleum products. The Company estimates that the contracts will be worth approximately $20.1 million based on current pricing levels.



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: LPH , UNG , USO

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As of 10/1/2014, 12:38 PM

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