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Sector Update: Energy

Energy shares are tipping lower as crude oil futures give up positive territory in the last hour of trading to finish down fractionally. Light, sweet crude oil for September delivery finished down 0.2% to $82.26 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.35% to $31.83. The United States Natural Gas ETF ( UNG ) is up 0.51% at $9.94. In late-session energy news, Royal Dutch Shell (RDS.A) ADRs are down as the European oil major said that it is making "good progress" in stopping an oil leak at the Gannet Alpha platform that has dirtied water in the North Sea, MarketWatch reports. Meanwhile, shares of ConocoPhillips ( COP ) are lower as media reports say the oil major is close to cleaning up the spill in China's Bohai Bay. The company also apologized for the spill and noted that no oil remains on the sea's surface from the spill.

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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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