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.
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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.
