Energy shares are higher in late-session trading as crude oil futures jump above $95 a barrel only to finish below that threshold by the close of trading at the New York Mercantile Exchange. Light, sweet crude oil for July delivery finished up 0.2% to $94.95 a barrel. In energy ETFs, the United States Oil Fund (USO) is down 0.57% to $37.37. The United States Natural Gas ETF (UNG) is down 3.44% at $11.24. In late-session energy news, BP ( BP ) and Chevron ( CVX ) shares are mixed as Bloomberg reports the the two oil majors are among the companies with leases in the Gulf of Mexico that the Obama administration plans to extend by a year, citing the Bureau of Ocean Management. In unreleated news, Chevron shares are higher as Reuters reports a Kazakh venture of the US oil major will invest up to $20 billion by 2016 to boost production by nearly 40%, quoting a senior company official.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.