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Sector Update: Energy Shares Higher Along With Crude Futures; November Contract Finishes Above $80
9/26/2011 3:24:00 PM
By: MT Newswires
NYMEX Benchmark Crude November: (+0.5%) to $80.24
Top Energy Stocks
Energy shares are higher in a volatile session while crude oil futures managed to keep the high ground to finish above $80 a barrel.
Light, sweet crude oil for November delivery finished up 0.5% to $80.24 a barrel. In other energy futures, heating oil was down 0.07% to $2.79 a gallon while natural gas was up 2.24% to $3.78 per million British thermal units.
In late-session energy news, shares of Chevron ( CVX ) are down as Bloomberg reports the company will make a final decision in 2013 about how much more it will invest in a move to add as much as 6 billion barrels of crude reserves to an oil field shares by Kuwait and Saudi Arabia.
Chevron is moving forward on a pilot project to inject steam into the Wafra field after seeing early promising results, the report said.
Chevron shares are up 0.1% or $0.09, to $90.10.
Meanwhile, Tortoise Energy Infrastructure ( TYG ) is reportedly upgraded to Outperform from Neutral at Robert W. Baird. The firm set a price target of $41.
Tortoise Energy shares are down 0.9%.