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Sector Update: Energy

Energy shares are higher in late trading while crude oil futures were unable to find legs into the close of trading. The July contract closed above $100 a barrel. Light, sweet crude oil for July delivery finished down 1.1% to $100.23 a barrel. In energy ETFs, the United States Oil Fund (USO) is down 0.95% to $39.55. The United States Natural Gas ETF (UNG) is down 1.25% at $11.08. In late-session energy news, Devon Energy ( DVN ) today reported that its Cana gas processing plant in Canadian County, Okla, sustained significant damage from a tornado on May 24. About 36 million cubic feet of natural gas and 2,000 barrels of natural gas liquids per day, net to DVN's interest, are curtailed as a result of the plant outage,the company said. Also, CH Energy Group ( CHG ) announced that its subsidiary, Central Hudson Enterprises, has signed an agreement with Duke Energy Renewables, a commercial business unit of Duke Energy ( DUK ), to sell the Shirley Wind Farm facility in Glenmore, Wisc. Financial terms were not disclosed.

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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.

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