Sector Update: Energy

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Energy shares were generally mixed in pre-market trade Friday as crude oil futures were down.

Light, sweet crude oil for September delivery was down 0.26% at $93.72 per barrel. In other energy futures, heating oil was down 0.07% at $2.84 per gallon while natural gas was down 0.28% at $3.88 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.28% at $34.99. The United States Natural Gas ETF ( UNG ) was down 0.19% at $21.34.


In other energy news, Duke Energy ( DUK ) was up 0.6% at $73.50 after it said it has entered into a deal to sell its non-regulated Midwest Commercial Generation Business to Dynegy ( DYN ) for $2.8 billion in cash as part of its strategy to exit the merchant generation business.

The portfolio of assets to be acquired by Dynegy includes ownership stakes in 11 power plants and Duke Energy Retail Sales, the company's competitive retail business in Ohio.

DYN was up 8.5% at $32.25.

And, North Atlantic Drilling ( NADL ), an offshore harsh environment drilling company, Friday said it has signed an agreement to acquire a significant portion of Rosneft's land drilling fleet in Russia.

Rosneft is an integrated oil company majority owned by the Government of Russia. NADL was inactive in recent pre-market trading on Friday, last touching $10.31 on Thursday.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities

Referenced Stocks: USO , UNG , DUK , DYN , NADL

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