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Sector Update: Energy

Energy shares are broadly lower as crude futures steepen losses into the close with the July contract finishing under $95 a barrel. Light, sweet crude oil for July delivery finished down 4.6% to $94.81 a barrel. In energy ETFs, the United States Oil Fund (USO) is down 3.89% to $37.58. The United States Natural Gas ETF (UNG) is down 0.13% at $11.62. In late-session energy news, shares of Total ( TOT ) are among the big-name decliners feeling the weight of mounting concerns of the debt situation in Greece. Also, the NYSE Arca Oil Index dropped 2% to 1,250. Shares of Chevron ( CVX ) were also down even as Reuters reports that the oil major managed to secure a shale gas exploration permit from the Bulgarian government for exploration work at a potentially large field in the northeastern part of that country.

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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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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