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Sector Update: Energy

Energy shares are higher in mid-day trading as crude oil futures jump, again, topping $86 a barrel at the New York Mercantile Exchange. Light, sweet crude for October delivery is trading up 1.97% to $86.08 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.77% to $33.30. The United States Natural Gas ETF ( UNG ) is up 1.69% at $9.90. In mid-day energy news, ADRs of Royal Dutch Shell (RDS.A) are higher after Bloomberg reported that Europe's largest oil company is among energy producers that have discussed a partnership to fund exploration of Papua New Guinea with Oil Search Ltd., that country's largest oil and gas producer. Oil Search may sign an agreement with a partner as early as next year, the report says.

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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