Sector Update: Energy
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 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.