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Energy Sector Update for 12/21/2018: UPL, PBR, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: +0.98%

CVX: +0.97%

COP: +0.67%

SLB: -1.88%

OXY: Flat

Energy stocks were mixed in Friday's pre-market trading . West Texas Intermediate crude oil for February delivery was $0.21 lower to $45.67 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude February contract lost $0.86 to $53.49 per barrel and January natural gas futures were 14 cents higher at $3.72 per 1 million BTU.

Stocks moving on news include:

(+) Ultra Petroleum ( UPL ), which was more than 12% higher as the natural gas reserves developer said it expects to close on transactions that will reduce long-term debt by at least $235 million before year-end.

In other sector news:

(-) Petroleo Brasileiro ( PBR ) was slightly lower after reports that it will suspend all oil and fuel trading with Trafigura AG and Glencore PLC.

(+) Exxon Mobil ( XOM ) was trading nearly 1% higher. It said it decided to withdraw its West Coast Canada liquefied natural gas ( LNG ) export terminal in northern British Columbia from the environmental assessment process, effectively suspending the LNG project, Reuters reported.

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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