Sector Update: Energy
Light, sweet crude oil for July delivery traded up 1.5% to $98.78 a barrel. In energy ETFs, the United States Oil Fund (USO) is up 1.83% to $38.96. The United States Natural Gas ETF (UNG) is down 1.15% at $11.65. In mid-day news, Cloud Peak Energy ( CLD ), a U.S. coal producer, today, announced an agreement with Westshore Terminals LP to permit coal shipments through the Westshore Terminal in Vancouver, BC for ten years. CLD exported 3.3 mln tons to Asian customers in 2010 through the terminal. The contract will commence in 2013 once the current contract ends, pending a definitive agreement between the parties.
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