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Sector Update: Energy

Energy shares are down in mid-day trading as crude oil futures fall amid mounting concern over damage to nuclear facilities in Japan. Light, sweet crude oil for April delivery traded down 2.21%, or $2.21, to $98.98 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.57% to $39.88. The United States Natural Gas ETF ( UNG ) is up 1.73% to $10.60. In mid-day news, Arch Coal ( ACI ) says losses from last month's Christchurch, New Zealand, earthquake may be as much as $70 million. The loss will be at least $35 million, according to Bloomberg. Meanwhile, SunPower ( SPWRA ) says Japanese suppliers have indicated that, while certain operations are currently disrupted due to infrastructure issues, they have not sustained major damage to their facilities.

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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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