Markets

Sector Update: Energy

Energy shares are higher an hour from the session's close as crude oil futures managed to keep--and extend--early gains to close above $101 a barrel. Light, sweet crude oil for July delivery finished up 1.7% to $101.32 a barrel. In energy ETFs, the United States Oil Fund (USO) is up 1.63% to $39.92. The United States Natural Gas ETF (UNG) is up 0.76% at $11.22. In late-session energy news, shares of Exxon Mobil (XOM) are higher and the Associated Press reports that shareholders at its annual meeting expressed concern over the oil major's move into natural gas. Exxon acquired XTO Energy last year and, since then, has become the largest natural gas firm in the US, the report said. In unrelated news, Reuters reports Exxon and the Nigerian government are moving closer to resolving a dispute over oil licensing renewals.

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.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More