Markets

Energy Sector Update for 01/02/2019: TOT, RDS.A, RDS.B, TUSK, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: -1.29%

CVX: -1.65%

COP: Flat

SLB: -1.61%

OXY: -1.43%

Energy stocks were trading lower pre-bell Wednesday. West Texas Intermediate crude oil for February delivery was down by $0.83 to $44.58 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude March contract lost $0.62 to $53.18 per barrel and February natural gas futures were flat at $2.94 per 1 million BTU.

In other sector news:

(-) Total ( TOT ) was slightly down as it announced the start of production in the Egina oil field offshore Nigeria.

(-) Royal Dutch Shell (RDS.A, RDS.B) was trading lower after reports that its Chinese unit has obtained a license to independently trade oil products on the domestic wholesale oil market.

(+) Mammoth Energy Services ( TUSK ) was slightly higher as it announced the expansion of its aviation services business by acquiring Air Rescue Services and forming a joint venture with privately held Wexford Capital to acquire Brim Equipment Leasing.

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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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RDS.B RDS.A XOM TUSK TOT

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