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Energy Sector Update for 04/14/2016: SUNE, OXY, SLB, COP, CVX, XOM, USO, UNG

Top Energy Stocks

XOM: +0.1%

CVX: +0.2%

COP: +0.7%

SLB: flat

OXY: flat

Energy shares were mostly firmer in pre-market trade on Thursday in step with crude oil futures, but gains could reverse following the International Energy Agency's statement that any arrangement to freeze crude output at the producer meeting this weekend in Qatar would not likely impact the supply-demand balance of crude in the global markets.

Light, sweet crude oil for May delivery was up 0.7% at $42.05 per barrel. In other energy futures, heating oil was up 1.1% at $1.28 per gallon while natural gas was 1.6% lower at $2.09 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 1.2% at $10.64 while the United States Natural Gas ETF ( UNG ) was down 1.5% at $6.78.

In other energy news, SunEdison ( SUNE ) rose in recent pre-market trade as Reuters cited unnamed sources as saying that the company is in discussions with Finland's Fortum to sell minority stakes in its India solar projects. The report cited Fortum as saying it plans to invest between $225 million and $450 million in solar projects in India, but also cited a spokeswoman as declining to confirm any talks with SunEdison. SunEdison said Thursday its independent directors have found that there were no material misstatements in the company's historical financial statements.

SUNE shares were up 55.5% at $0.58, with a 52-week range of $0.19 - $33.45.

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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