Sector Update: Energy

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Energy shares were mixed in pre-market trade Thursday as crude oil futures sank.

Light, sweet crude oil for September delivery was down 0.82% at $99.45 per barrel. In other energy futures, heating oil was down 0.29% at $2.89 per gallon while natural gas was up 0.42% at $3.80 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.08% at $36.89. The United States Natural Gas ETF ( UNG ) was up 1.44% at $20.79.


In other energy news, ConocoPhillips ( COP ) reported Q2 earnings that were in line with analysts' expectations.

COP is trading in the upper half of the 52-week range between $62.74 and $87.09.

The exploration and production company said earnings rose to $1.61 per share from $1.41 the year earlier, equal to the average estimate from analysts polled by Capital IQ. It didn't provide a revenue figure for the quarter.



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: USO , UNG , COP

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