Sector Update: Energy

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Energy stocks are trying to rally, with the NYSE Energy Sector Index and the S&P Energy Index both climbing into positive territory with 0.1% gains. Crude oil for August delivery is up around 30 cents at near $87.40 a barrel. August natural gas has reversed its earlier gains and is now off about 5 cents to $2.82 per 1 million BTU.

In company news, Ormat Technologies Inc. ( ORA ) shares are little changed after saying its Ormat Nevada subsidiary has signed a $61.4 million engineering and construction contract to provide two air-cooled energy converters to a geothermal power plant project now under construction in southern Utah by Enel Green Power North America.

In other sector news,

(+) MDR, (+0.3%) Wins two project awards with Saudi Aramco in the Karan, Safaniya and Zuluf fields.

(-) KYO, (-0.2%) Opens new solar-products warehouse in Cherry Hill, N.J., to augment existing distribution centers in San Diego and Scottsdale, Ariz.

(-) CHK, (-0.8%) Pressing Ohio landowners to accept revised lease contracts in bid to save enough money to retain access to those properties.



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: ORA

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