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Sector Update: Energy

Energy shares are higher in the last hour of trading while crude oil futures finish in positive territory, above $87 a barrel. Light, sweet crude oil for September delivery finished up 1.1% to $87.58 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.68% to $34.06. The United States Natural Gas ETF ( UNG ) is up 0.1% at $9.95. In late-session energy news, ConocoPhillips ( COP ) shares are higher even as China said the oil major must complete the oil spill cleanup in northwestern China by the end of this month or the company will face stiffer measures, Bloomberg reported. Meanwhile, shares of Southern Union ( SUG ) are higher as the company gets affirmation from Williams ( WMB ) late Tuesday that it still wants to buy Southern Union for $44 per share in cash.

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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