Energy shares are down in mid-day trading as oil executives testify before a congressional panel and crude oil futures trade to the downside. Light, sweet crude for June delivery traded down 0.21% to $98 a barrel. In other energy futures, heating oil is up 0.4% to $2.91 a gallon while natural gas is down 0.24% at $4.17 per million British thermal units. In energy ETFs, the United States Oil Fund ( USO ) is down 1.17% to $38.85. The United States Natural Gas ETF ( UNG ) is up 0.09% to $10.81. Executives from the major oil refiners defended the tax breaks they receive before Congress, which has been seeking ways to reign in the deficit.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.