Energy Sector Update for 09/21/2016: USO, UNG, USEG

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Top Energy Stocks

XOM: +1.0%

CVX: +0.7%

COP: +1.1%

SLB: +0.8%

OXY: +1.1%

Energy shares were higher in pre-market trade on Wednesday as oil prices advanced on projections for a decline in US inventories.

Light, sweet crude oil for November delivery was up 1.7% at $44.80 per barrel. In other energy futures, heating oil was 1.6% higher at $0.85 per gallon while natural gas was 0.8% higher at $1.61 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 1.5% at $10.22 while the United States Natural Gas ETF ( UNG ) was up 0.2% at $8.97.

In other energy news, U.S. Energy ( USEG ), an independent energy company, said Friday that it has entered into an earnings and participation agreement on a previously announced project with IronHorse Resources LLC, a Delaware limited liability company, under which the company will earn interests in certain IronHorse farmout agreements to participate in developing three core areas in the DJ Basin, Wattenberg Field, Weld County, Colorado.

Shares in the company were unchanged at $1.68 pre-bell. The stock has traded between $0.66 and $3.48 over the past 52 weeks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Energy
Referenced Symbols: USO , UNG , USEG

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