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Sector Update: Energy Shares Flat to Higher Pre-Market; Crude Oil Futures Dip

By: MT Newswires
Posted: 12/11/2013 7:59:00 AM
Referenced Stocks: LLEN;UNG;USO

Top Energy Stocks

XOM: +0.09%

CVX: +0.27%

COP: flat

SLB: +0.41%

OXY: flat

Energy shares are flat to higher in pre-market, while crude oil futures are lower.

Light, sweet crude oil for January delivery is trading down $0.13 at $98.38 per barrel. In other energy futures, heating oil is flat at $3.02 a gallon while natural gas is down $0.03 at $4.21 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.1% at $35.29. The United States Natural Gas ETF ( UNG ) is down 1.49% at $20.45.

In other energy news, Ballard Power Systems (BLDP, BLD.TO) is up 4.3% pre-market after it said it will be supplying ElectraGen-ME fuel cell systems for a pilot project in Idea Cellular's India telecom network, the company announces.

The fuel cell systems will be utilized in combination with solar technology to generate continuous power at five wireless base station sites. Funding for a feasibility study as well as the pilot project has been made available through a grant from the United States Trade and Development Agency.

And, L&L Energy ( LLEN ) will delay filing its quarterly reporting saying the time constraints are "impracticable without undue hardship and expense." LLEN shares have been halted since Nov. 18 as the company is trying to meet Nasdaq's demands for more information.