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Sector Update: Energy

By: MT Newswires
Posted: 2/3/2014 8:28:00 AM
Referenced Stocks: CVX;GE;UNG;USO

Energy shares were flat to higher in pre-market trade Monday, while crude oil futures were trading higher.

Light, sweet crude oil for March delivery was up 0.13% at $97.62 per barrel. In other energy futures, heating oil was down $0.01 at $2.98 per gallon while natural gas was down $0.18 at $4.77 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.32% at $34.69. The United States Natural Gas ETF ( UNG ) was down 1.99% at $23.70.

In other energy news, Oil and gas giant Chevron ( CVX ) said its Chevron Energy Technology Company unit has formed a technology alliance with GE's ( GE ) oil and gas division to create technologies for the oil and gas industry. CVX us up 0.6% pre-market.