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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.

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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