Sector Update: Energy

By Staff,

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Energy shares are higher in mid-day trading as crude oil futures rebound thanks to better-than-expected job data. The U.S. economy gained 244,000 jobs in April, the biggest increase in almost a year and more than the 175,000 economists' expected. Light, sweet crude for June delivery is off earlier highs and near even at $99.89 a barrel, up 9 cents. In energy ETFs, the United States Oil Fund ( USO ) is up 2.85% to $40.37. The United States Natural Gas ETF ( UNG ) is up 1.73% to $11.18. In mid-day news, shares of Tesco Corp. ( TESO ) are seeing some support after the petroleum industry services company said late Thursday Q1 net income was $0.13 per share, below the Thomson Reuters mean for $0.16. Sales were $105.6 million, below forecasts for $120 million.

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

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

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