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Sector Update: Energy

By: MT Newswires
Posted: 12/12/2011 3:30:00 PM
Referenced Stocks: COP;FCEL

Energy shares are broadly lower while crude oil futures slide to trade down below $98 a barrel. Light, sweet crude oil for January delivery traded down $1.48 to $97.93 a barrel. FuelCell Energy ( FCEL ) was up 14.7% after earlier announcing a partnership agreement with Spanish conglomerate Abengoa S.A. to develop localized stationary fuel cell power plants for markets in Europe and Latin America. Meanwhile, shares of ConocoPhillips ( COP ) are down while Reuters reports the U.S. oil major made a find of natural gas in the southern North Sea but that further tests are needed to determine if it is worth developing.