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Energy Sector Update for 06/06/2016: USO, UNG, HEP

Top Energy Stocks

XOM: +0.9%

CVX: flat

COP: flat

SLB: +0.8%

OXY: flat

Energy shares were mainly unchanged in pre-market trade on Monday as crude oil futures were higher.

Light, sweet crude oil for July delivery was up 2.1% at $49.65 per barrel. In other energy futures, heating oil was 1.1% higher at $0.85 per gallon while natural gas was up 1.3% at $1.61 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 1.6% at $12.01 while the United States Natural Gas ETF ( UNG ) was 1.7% higher at $7.36.

And, in other energy news, Holly Energy Partners, L.P ( HEP ) said on Monday that will acquire 50% equity interest in Cheyenne Pipeline LLC, the owner of the Cheyenne Pipeline, for $42.5 million in cash. Plains All American Pipeline, LP ( PAA ) owns the other 50% interest and will continue to operate the 87-mile crude oil pipeline.

Shares in Holly Energy Partners were unchanged at $33.34 pre-bell. The stock has traded between $21.44 and $36.99 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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