Markets
PTR

Sector Update: Energy

Energy shares are higher in late trading as crude oil futures logged gains to close above $105 a barrel at the New York Mercantile Exchange. Light, sweet crude oil for April delivery finished up 0.7% to $105.75 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.64% to $42.20. The United States Natural Gas ETF ( UNG ) is up 1.76% to $11.54. In late-session energy news, shares of ConocoPhilips ( COP ) are higher as the oil major announced announced plans to sell an additional $5-10 billion of non-core assets over the next two years. The company said it will use the proceeds to fund its share buyback and capital-expenditure programs. Meanwhile, PetroChina ( PTR ) is up 2.5% after the company said its first liquefied natural gas or LNG terminal will receive its first cargo between April 26 and 28 and start selling the fuel in late May.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

PTR UNG COP USO

Other Topics

Commodities

Latest Markets Videos