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Sector Update: Energy

Energy shares are higher in late-session trading as the sector gets a boost from crude oil futures, which surged on concern over supply blips due to unrest in Libya. Light, sweet crude oil for April delivery finished up $2.68, or 2.8%, to $98.10 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 3.25% to $39.74. The United States Natural Gas ETF ( UNG ) is up 1.19% to $5.26. In late-session energy news, Chevron ( CVX ), ConocoPhillips ( COP ), ExxonMobil ( XOM ), Royal Dutch Shell (RDS.A) and Tesoro (TSO) were among a group of oil companies sued by a Los Angeles driver over the collection of zip codes from customers paying for gas with credit cards, reports the San Francisco Business Times.

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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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