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Sector Update: Energy

Energy shares keep high ground even as crude oil futures back off from positive territory late in the session. The September contract finished down 0.4%. Light, sweet crude oil for September delivery finished down 0.4% to $85.38 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 0.3% to $33.20. The United States Natural Gas ETF ( UNG ) is down 1.35% at $10.26. In late-session energy news, Transocean ( RIG ) is up 2.42% to $55.07 a share after being upgraded to "outperform" from "market perform" at Raymond James. Also, shares of ConocoPhillips ( COP ) are higher as Bloomberg reports the company said an oil leak in an oil rig platform owned by the oil major and China National Offshore Oil in Bonhai Bay off the coast of China.

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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