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Sector Update: Energy

Energy shares are mostly lower in late-session trading while crude oil futures end the session below $95 a barrel. Light, sweet crude oil for September delivery finished down 0.9% to $94.89 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 0.94% to $37.07. The United States Natural Gas ETF ( UNG ) is up 0.86% at $10.59. In late-session energy news, Schlumberger ( SLB ) and Halliburton ( HAL ) shares are lower as Bloomberg reports the two oilfield services companies are among the final bidders in a Petroleos Mexicanos offering to develop onshore mature oilfields. Pemex had authorized 17 bidders for the three fields. The company will announce the winners on Aug. 18, the report said. Meanwhile, shares of Exterran Partners ( EXLP ) are firmer after the partnership said late Friday it declared a cash distribution of $0.4825 per limited partner unit, or $1.93 per limited partner unit on an annualized basis, payable on August 12 to unitholders of record at the close of business on August 9.

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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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