Sector Update: Energy
Energy shares are higher in pre-market trade, as energy stocks, along with other equities, are bouncing back from a broader sell off yesterday.
Light, sweet crude oil for June delivery is up $0.43 at $95.57 a barrel. In other energy futures, heating oil is up $0.02 at $2.88 a gallon while natural gas is up $0.01 at $3.89 per million British thermal units.
In other energy news, Hess Corp ( HES ) and Newfield Exploration ( NFX ) are jockeying to sell part of their Asian oil and gas field stakes in two separate auctions with a combined value of about $3 billion, Reuters reports, citing "people familiar with the matter." HES is flat in pre-market at $64.28; NFX is flat at $23.25.