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Energy Sector Update for 06/27/2017: XOM, CVX, COP, SLB, OXY, TOPS, PDCE, BTE

Top Energy Stocks:

XOM: +0.04%

CVX: +0.01%

COP: +0.2%

SLB: -0.1%

OXY: -0.1%

Energy shares were mostly firmer before Tuesday's opening bell, as crude oil futures rose for a fourth straight day as a weaker dollar boosted the appeal for commodities priced in the U.S. currency.

Light, sweet crude oil for August delivery was up 1.2% at $43.92 per barrel. In other energy futures, heating oil was up 1.5% at $1.41 per gallon while natural gas was 0.1% higher at $3.05 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 1.3% at $9.05 while the United States Natural Gas ETF ( UNG ) was up 0.3% at $6.82.

In energy stocks news, TOP Ships ( TOPS ) was up 30.9% after it said late Monday that it has updated key financial information giving effect to the reverse stock split on June 23. The company now has about $4.2 million in cash and cash equivalents, or $2.91 per share. Net book value of vessels is about $123.4 million. The company's debt outstanding balance is about $113.8 million, while its outstanding number of shares is 1,443,092.

In other sector news,

PDCE (flat) Sued over alleged violation of Clean Air Act

BTE, (flat) Sees Q2 production increase from prior quarter and provides production guidance for first half of 2017

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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