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Sector Update: Energy

Energy shares are mostly higher as crude manages to inch above $82 a barrel. Crude oil for November delivery traded up 2.3%, or $1.88, to $82.03 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 2.7% to $35.56. The United States Natural Gas ETF ( UNG ) is up 1.16% to $5.67. In mid-day sector news, Marathon Oil ( MRO ) said it took a stake in four exploration blocks in Kurdistan, marking the company's first entry into Iraq, Reuters reported. The Houston-based company signed production-sharing agreements to operate and take an 80% stake in two open blocks the report said.

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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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