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Sector Update: Energy

Energy shares are mostly higher as crude futures back off yesterday's high to trade below $89 a barrel and AGL Resources ( AGL ) and Nicor ( GAS ) consummate a $2.4 billion merger. Crude oil for January delivery traded down $0.78 to $88.60 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is just lower, down 0.7% to $37.96. The United States Natural Gas ETF ( UNG ) is down 1.32% to $6.10. The U.S Dollar Index (DXY) is up 0.22% to $79.74. In sector news, shares of El Paso Corp. ( EP ) are just higher in mid-day trading on news that Kohlberg Kravis Roberts & Co. will pay $125 million in a new half-and-half joint venture with an El Paso unit, according a MarketWatch report. Also, shares of AGL Resources ( AGL ) and Nicor ( GAS ) are mixed as the two companies agreed to a $2.4 billion merger, creating a combined company with more than 4.3 million customers.

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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