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Sector Update: Energy

Energy shares are down as crude oil futures pare some of yesterday's declines, but the April contract is still trading below $100 a barrel. Light, sweet crude oil for April delivery traded up 1.26%, or $1.22, to $98.40 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.81% to $39.71. The United States Natural Gas ETF ( UNG ) is down 0.28% to $10.53. In mid-day news, Weatherford International Ltd. ( WFT ) opened lower and is down at mid-day after it cut its Q1 earnings guidance this morning as poor weather and unrest in the Middle East weighs on the oil and gas service company. It suspended full-year guidance because of the upheaval, the company said in a filing with the Securities and Exchange Commission on Tuesday, according to the AP.

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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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