Energy shares are broadly lower in mid-day trading along with the broader market as crude oil futures pare gains from the last several days to trade down 5.2%. Light, sweet crude for September delivery is trading down 5.2% to $83.07 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 4.88% to $32.35. The United States Natural Gas ETF ( UNG ) is down 0.8% at $9.96. In mid-day news, shares of Exxon Mobil ( XOM ) are down along with the broader market while Reuters reports the oil major sued the givernment to reverse a move by the U.S. Department of the Interior to cancel offshore oil and gas leases. Exxon argued in a suit filed in federal court in Louisiana that the decision deprives the company of its rights in three of five leases.
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