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Sector Update: Energy

Energy shares are higher in mid-day trading while crude oil futures are managing modest gains, adding to a prior-session surge. Light, sweet crude for September delivery traded up 4.5% to $82.89 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 2.01% to $32.42. The United States Natural Gas ETF ( UNG ) is up 2.87% at $10.39. In mid-day news, Teekay Corp. ( TK ) rises Q2 net loss, less items, was $0.51 per share on sales of $484.9 million. That is versus a loss of $0.36 per share on an adjusted basis a year ago. Meanwhile, shares of Exxon Mobil ( XOM ) are higher after shares were halted briefly. According to a MarketWatch report, the Nasdaq said the oil refiner's shares took a five minute break from trading.

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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