Sector Update: Shares Lower as Crude Oil Futures Drop


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Energy shares were lower in pre-market trade Friday as crude oil futures sank.

Light, sweet crude oil for September delivery was down 0.66% at $97.52 per barrel. In other energy futures, heating oil was up 0.08% $2.89 per gallon while natural gas was down 1.22% at $3.79 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.44% at $36.15. The United States Natural Gas ETF ( UNG ) was down 0.24% at $21.05.

In other energy news, Targa Resources Partners LP ( NGLS ), a natural gas company, reported Q2 results that included net income that beat the Street view, while revenue fell slightly short.

Net income attributable to Targa Resources Partners was $108.8 million compared to $26.3 million for Q2 2013.

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
More Headlines for: USO , UNG , NGLS

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