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Sector Update: Energy

Energy shares are down in mid-day trading while September crude trades under $87 a barrel, although it has moved off its intraday low at the New York Mercantile Exchange. Light, sweet crude oil for September delivery traded down 0.63% to $86.10 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.37% to $33.85. The United States Natural Gas ETF ( UNG ) is up 0.3% at $10. In mid-day news, shares of Exxon Mobil ( XOM ) are down after the company said in a statement that the development of the Indonesian Banyu Urip field in the Cepu block in East Java has achieved a major milestone with the award of the first of five engineering, procurement and construction contracts for work on major facilities at the development.

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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