Sector Update: Energy
Energy shares are higher in late trading as crude oil futures slip to finish just below $95 a barrel. Light, sweet crude oil for August delivery finished down 0.5% to $94.94 a barrel. In energy ETFs, the United States Oil Fund (USO) is up 0.11% to $37.28. The United States Natural Gas ETF (UNG) is down 1.18% at $10.89. In late-session energy news, Exxon Mobil (XOM) shares are higher as MarketWatch reports the oil major was ordered to pay $1 billion in punitive damages from a legal case involving an underground gas leak in 2006 by a Baltimore County, Md jury. Meanwhile, Walter Energy ( WLT ) said late Thursday Keith Calder will resign as CEO and director, effective July 31, due to differences of opinion concerning management philosophy.
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