Top Energy Stocks:
Top energy stocks were mixed in Wednesday's pre-bell trading. West Texas Intermediate crude oil for December delivery was up $0.45 at $55.66 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude January contract gained $0.55 to $61.46 per barrel and December natural gas futures were 3 cents higher at $2.54 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 0.82% while the United States Natural Gas fund was 0.86% higher.
Stocks moving on news include:
(+) California Resources (CRC), which was advancing by more than 13% after saying it does not expect the California Department of Conservation's proposal to halt approvals of new oil extraction wells that use high-pressure steam to have a significant effect on its production, plans or reserves.
(+) Scorpio Tankers (STNG) was 2% higher after saying its president, Robert Bugbee, purchased call options on 200,000 common shares for $450,000.
(+) Encana (ECA) was climbing by more than 1% after defending the decision to move its corporate domicile to the US after shareholder and asset manager Letko, Brosseau & Associates expressed in a letter its opposition to the Canadian natural gas company's decision.