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Sector Update: Energy Shares Down; Crude Oil Futures Trade Below $104 a Barrel

By: MT Newswires
Posted: 3/9/2011 1:21:00 PM
Referenced Stocks: DYN;UNG;USO

NYMEX Benchmark Crude April: -$0.20 (-0.19%) to $104.67

Top Energy Stocks

XOM: -0.6%

CVX: -1.3%

COP: -0.1%

SLB: -1.2%

OXY: +1.0%

Energy shares are down in mid-day trading as crude oil dips below $104 a barrel and Dynegy ( DYN ) says it may be forced to file for bankruptcy protection.

Light, sweet crude oil for April delivery is trading down $0.20, or 0.19%, to $104.67 a barrel. In other energy futures, heating oil is up 1.55% to $3.05 a gallon while natural gas is up 1.35% to $3.00 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.31% to $42.18. The United States Natural Gas ETF ( UNG ) is up 1.42% to $10.47.

In mid-day news, Dynegy is down after the company said in an SEC filing it may be forced to file for bankruptcy protection, according to Marketwatch. The company said it may not be able to comply with debt payments by Q3 or Q4 of this year, the report said.

Dynegy shares are down 2.76%, or $0.16, to $5.63.