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Sector Update: Energy

Energy shares are higher in late trading as crude oil futures fall back from yesterday's surge to trade below $102 a barrel. Light, sweet crude oil for April delivery finished down $0.32, or 0.3%, to $101.91 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 0.48% to $41.19. The United States Natural Gas ETF ( UNG ) is down 0.78% to $5.06. In late-session energy news, BP plc ( BP ) is up fractionally after withholding bonuses from executives who were responsible for Gulf of Mexico operations leading up to last year's ruinous oil spill. Former Chief Executive Tony Hayward and former head of exploration and production, Andy Inglis are among those being denied a bonus. New CEO Bob Dudley also decided to forgo his 2010 bonus, the AP reported, citing the company's annual report.

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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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