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Sector Update: Energy

Energy shares are down in mid-day trading as crude oil futures fall for the second session in a row to trade below $102 a barrel. Light, sweet crude oil for April delivery is trading down $2.83, or 2.69%, to $101.57 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.07% to $41.18. The United States Natural Gas ETF ( UNG ) is down 2.29% to $10.23. In mid-day news, Chevron ( CVX ) shares are down after Reuters reported that the oil major will appeal an $8.6 billion judgment by an Ecuadorian judge. The ruling, one of the largest environmental lawsuit judgments ever, requires the company to pay for contamination caused by Texaco in the 1970s and 1980s. Chevron later purchased Texaco.

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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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