Sector Update: Energy
Energy shares are higher in mid-session trading as crude oil futures give back some early gains but are still trading above $102 a barrel. Light, sweet crude for July delivery is trading up 1.51% to $102.11 a barrel. In energy ETFs, the United States Oil Fund (USO) is up 1.69% to $40.38. The United States Natural Gas ETF (UNG) is up 3.3% at $11.86. In mid-day news, Noble Energy ( NBL ) shares are higher as the company announced Tuesday that it has made a new discovery at the Santiago exploration prospect in the deepwater Gulf of Mexico. The well, located in 6,500 feet of water on Mississippi Canyon Block 519, was drilled to a total depth of approximately 18,920 feet.
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