Sector Update: Energy

By Staff,

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Energy shares are higher in pre-market trading as the November crude contract trades up, closer to $84 a barrel. The United States Oil Fund ( USO ) is up 0.9% while the United States Natural Gas Fund is down 1.5%. In energy stocks, Statoil ( STO ) said Friday that production at its Grane field in the North Sea would be cut in the coming three to six weeks because of a technical glitch, Reuters reported. Also Dejour Energy ( DEJ ) announced late Thursday rising preliminary sequential oil and gas production results (net of shrinkage, flared gas and site fuel) for Q3. It reported a 78% Q3 production gain and said it expects Q4 production to continue to increase averaging in excess of 600 BOE per day with 57% oil. Dejour shares are up 20.7% in pre-bell trade.

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: DEJ , STO , USO

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