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Energy Sector Update for 01/03/2017: LEI, XOM, CVX, COP, SLB, OXY

Top Energy Stocks

XOM: +1.1%

CVX: -0.1%

COP: -0.8%

SLB: +0.4%

OXY: +1%

Energy shares were mostly firmer in pre-market trade on Tuesday, as crude oil futures rose to an 18-month high ahead of OPEC's deal to cut production, which took effect Sunday.

Light, sweet crude oil for February delivery was up 2.3% at $54.94 per barrel. In other energy futures, heating oil was up 1.3% at $1.75 per gallon while natural gas was 6.4% lower at $3.45 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 1.8% at $11.93 while the United States Natural Gas ETF ( UNG ) was down 7.8% at $8.61.

In energy news, Lucas Energy ( LEI ) was up 19.4% after the independent oil and gas company with operations in Texas and Oklahoma said early Tuesday it signed an agreement to acquire a leasehold position in the Permian Basin in Texas. Under the deal with a privately-held, Houston, Texas-based oil and gas firm, Lucas will purchase the initial lease comprising 3,630 net mineral acres and the parties will form an area of mutual interest (AMI) on the central basin platform of the Permian Basin covering about 20,000 net mineral acres.

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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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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