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Sector Update: Energy

By: MT Newswires
Posted: 11/8/2011 12:07:00 PM
Referenced Stocks: DRYS;DYN;UNG;USO

Energy shares are lower in mid-day trading while crude oil futures log fractional gains to trade near $96 a barrel. Light, sweet crude oil for December delivery traded up 0.41% to $95.95 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 0.19% to $37.02. The United States Natural Gas ETF ( UNG ) is down 0.12% to $8.48. In mid-day energy news, DryShips ( DRYS ) is higher after the company reported better than expected Q3 results. Also, Dynegy ( DYN ) is sharply higher after the company earlier announced that it has reached an agreement with a group of investors holding over $1.4 billion of senior notes issued by Dynegy's direct wholly-owned subsidiary, Dynegy Holdings, regarding a framework for the consensual restructuring of over $4.0 billion of obligations owed by DH.