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Sector Update: Energy

Energy shares are higher in late-session trading as crude oil futures manage to close the week above $88 a barrel. Crude oil for January delivery finished up $0.32, or 0.34%, to $88.02 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.07% to $37.79. The United States Natural Gas ETF ( UNG ) is up 0.94% to $5.59. The U.S Dollar Index (DXY) is up 0.27% to $80.40. In late-session energy news, BioFuel ( BIOF ) rises after it says its Board set Dec. 27 as the record date for determination of the stockholders entitled to receive subscription rights in the company's previously announced rights offering. In another case of a rights offering, Ivanhoe Mines ( IVN ) shares are higher after the company announced details of a strategic rights offering in which all existing IVN shareholders may participate on an equal, proportional basis in purchasing additional common shares.

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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