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.
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