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Energy Sector Update for 03/05/2018: USO, UNG, OCIP

Top Energy Stocks

XOM: +0.4%

CVX: flat

COP: flat

SLB: flat

OXY: flat

Energy shares were steady in pre-market trading Monday. The International Energy Agency (IEA), in a report out Monday, said the US will fulfill most of the world's growing oil demand over the coming five years. The IEA forecast that strong economic growth around the world will continue to support strong oil consumption until at least 2023.

"Upstream investment shows little sign of recovering from its plunge in 2015-2016, which raises concerns about whether adequate supply will be available to offset natural field declines and meet robust demand growth after 2020,"the IEA said.

Light, sweet crude oil for April delivery was down fractionally at $61.24 per barrel, while natural gas was down fractionally at $2.69 per million Btu.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.3% at $12.32 while the United States Natural Gas ETF ( UNG ) was down 0.9% at $22.36.

Expected movers:

- OCI Partners ( OCIP ): reports Q4 swing to profit

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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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