Energy shares are off session highs but still in mostly positive
territory as crude oil futures slipped throughout the day to close
below $88 a barrel. Light, sweet crude oil for March delivery
finished down $1.55, or 1.7%, to $87.48 a barrel. In energy ETFs,
the United States Oil Fund (
) is down 1.73% to $36.69. The United States Natural Gas ETF (
) is down 4.67% to $5.59. In late-session energy news, Chevron (
) shares have remained in positive territory but are off session
highs as the oil major plans to pay Atlas Energy (
) an additional 10 cents a share to settle litigation when its
$3.59 billion acquisition is completed, Bloomberg reports. The
settlement comes in response to Atlas shareholder lawsuits that
claim company directors violated fiduciary duties by agreeing to an
inadequate merger price. Chevron shares are up 0.69%, or $0.67, to
$97.78. The session high is $98.23.
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