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Energy Sector Update for 09/28/2015: USO, UNG, RDS.A

Top Energy Stocks

XOM: -0.9%

CVX: flat

COP: -0.2%

SLB: -0.9%

OXY: flat

Energy shares were mainly lower in pre-market trade Monday as crude oil futures contracted.

Light, sweet crude oil for November delivery was 1.0% lower at $44.68 per barrel. In other energy futures, heating oil was down 1.7% at $1.39 per gallon while natural gas was up 3.0% at $2.45 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was unchanged at $14.72 while the United States Natural Gas ETF ( UNG ) was flat at $12.08.

In other energy news, Dutch oil production major Royal Dutch Shell (RDS.A) announced that it would seal and abandon its Burger J Well in Alaska's Chukchi Sea after finding that the indications of oil and has in the well were not sufficient to warrant further exploration.

Describing the result as "a clearly disappointing exploration outcome" Shell said it would cease further exploration activity in offshore Alaska for the foreseeable future.

The company added that it expects to take financial charges as a result of the announcement.

Shares in the company were unchanged pre-bell at $46.52. The company has traded between $46.63 and $76.94 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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