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Energy Sector Update for 02/09/2016: USO, UNG, PNY

Top Energy Stocks

XOM: -1.6%

CVX: -3.2%

COP: -4.0%

SLB: -2.9%

OXY: -2.1%

Energy shares were lower in early afternoon trade on Tuesday as crude oil futures continued their descent.

Light, sweet crude oil for March delivery was down 3.4% at $28.68 per barrel after a report published by the International Energy Agency forecast that oil demand growth would "ease back considerably in 2016".

In other energy futures, heating oil was 4.1% lower at $0.85 per gallon while natural gas was 1.7% lower at $1.68 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 4.8% at $8.23 while the United States Natural Gas ETF ( UNG ) was down 0.1% at $7.82.

In other energy news, Piedmont Natural Gas ( PNY ) shares were upgraded to neutral from underperform by Hilliard Lyons.

Shares in the company were 0.1% lower at $59.11 in recent trade. The company has traded between $34.95 and $59.37 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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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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