Sector Update: Energy


Energy shares are higher in late-session trading as crude oil futures back off session highs to finish up over 1%. Light, sweet crude oil for November delivery finished up 1.2% to $82.14 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.54% to $31.72. The United States Natural Gas ETF ( UNG ) is down 0.97% to $9.19. In late-session energy news, shares of ConocoPhillips ( COP ) are higher as Reuters reports that the U.S. oil major bought Libyan oil - the first for a US oil firm after the end of international trade sanctions, citing sources. Meanwhile, Swift Energy ( SFY ) shares are down 9.14%, or $2.57, to $25.55 as the company said due to the failure of a third party operated gathering line earlier this week, Swift Energy has been required to halt dry natural gas sales from its Fasken field in Webb County, TX.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: COP , SFY , UNG , USO

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