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Sector Update: Energy

Energy shares are down in the last hour of trading as crude oil futures slip at the New York Mercantile Exchange to finish below $87 a barrel. Light, sweet crude oil for September delivery finished down 1.4% to $86.65 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 1.32% to $33.77. The United States Natural Gas ETF ( UNG ) is down 1.87% at $9.97. In late-session energy news, ADRs of Royal Dutch Shell (RDS.A) traded lower as news reports noted the damaged reputation of the European oil major after the worst oil spill in the North Sea in a decade, according to the Associated Press. Meanwhile, ADRs of BP plc ( BP ) are down as Bloomberg reports the British oil major replaced its head of strategy as the company sought ways to support its share price following the Gulf of Mexico oil spill last year.

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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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