Sector Update: Energy


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Energy shares were generally flat in pre-market trading Monday as crude-oil futures dropped.

Light, sweet crude oil for August delivery was down 0.2% at $103.89 per barrel. In other energy futures, heating oil was down 0.4% at $2.92 per gallon while natural gas was down 2.2% at $4.31 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was flat at $38.25. The United States Natural Gas ETF ( UNG ) was down 1.9% at $23.65.

In other energy news, Rice Energy ( RICE ) said it agreed to acquire approximately 22,000 net acres and 12 developed Marcellus wells in western Greene County, Pennsylvania, from Chesapeake Appalachia and its partners. Rice Energy will pay approximately $336 million for the assets and expects to close the transaction in August. Shares of RICE were down 0.7% in recent pre-market trading at $29.09, in a 52-week range of $20.78 to $34.34.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: USO , UNG , RICE

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