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Sector Update: Energy

Energy shares are trading broadly higher as crude oil futures continue paring last week's losses to trade above $87 a barrel. Light, sweet crude for September delivery is trading up 2.1% to $87.18 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 2.29% to $33.99. The United States Natural Gas ETF ( UNG ) is down 0.49% at $10.20. In mid-day news, ADRs of Royal Dutch Shell (RDS.A) are up 0.66% to $66.07, while the Associated Press reports that the British government says that several hundred tons of oil may have leaked into the North Sea from the company's Gannet Alpha platform off the Scottish coast. Meanwhile, shares of Transocean ( RIG ) are higher on the company's plans to acquire Norwegian drilling rig operator Aker Drilling ASA at a 62% premium in a deal valued at $2.23 billion.

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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