Sector Update: Energy

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Energy shares are mixed in late-session trading as crude oil futures close near $89 a barrel at the New York Mercantile Exchange. Light, sweet crude oil for October delivery finished up 1.9% to $88.90 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.5% to $34.47. The United States Natural Gas ETF ( UNG ) is up 2.02% to $9.86. In late-session energy news, ADRs of China Petroleum & Chemical Corp. ( SNP ) are down after Bloomberg reports the refiner is planning to collaborate with overseas companies to boost its search for shale gas resources. Shares of Exxon Mobil ( XOM ) are down after it announced a deal with Russian oil major Rosneft under which the companies plan to undertake joint exploration and development of hydrocarbon resources in Russia, the United States and other countries.



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This article appears in: Investing , Commodities

Referenced Stocks: SNP , UNG , USO , XOM

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