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Sector Update: Energy

Energy shares are lower as crude oil futures swing to the red, where they close down 0.3% at the new York Mercantile Exchange. Light, sweet crude oil for October delivery finished down 0.3% to $85.16 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 1.35% to $32.97. The United States Natural Gas ETF ( UNG ) is down 2% at $9.80. In late-session energy news, shares of CNOOC ( CEO ) are down as the oil and gas producer - China's largest - said that production losses due to the shutdown of platforms B and C in China's northern Bohai Bay came to 22,000 barrels per day, Reuters reported. Meanwhile, shares of ConocoPhilips ( COP ) are up as Reuters reports the U.S. oil major is evaluating the impact of its oil spill in China's Bohai Bay. COP said, according to the report, the it has not yet received any claims for the incident.

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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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