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Sector Update: Energy

By: MT Newswires
Posted: 7/31/2014 8:31:00 AM
Referenced Stocks: USO;UNG;COP

Energy shares were mixed in pre-market trade Thursday as crude oil futures sank.

Light, sweet crude oil for September delivery was down 0.82% at $99.45 per barrel. In other energy futures, heating oil was down 0.29% at $2.89 per gallon while natural gas was up 0.42% at $3.80 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.08% at $36.89. The United States Natural Gas ETF ( UNG ) was up 1.44% at $20.79.

In other energy news, ConocoPhillips ( COP ) reported Q2 earnings that were in line with analysts' expectations.

COP is trading in the upper half of the 52-week range between $62.74 and $87.09.

The exploration and production company said earnings rose to $1.61 per share from $1.41 the year earlier, equal to the average estimate from analysts polled by Capital IQ. It didn't provide a revenue figure for the quarter.