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Sector Update: Energy

Energy shares are mixed in late-session trading as crude oil futures close near $89 a barrel at the New York Mercantile Exchange. Light, sweet crude oil for October delivery finished up 1.9% to $88.90 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.5% to $34.47. The United States Natural Gas ETF ( UNG ) is up 2.02% to $9.86. In late-session energy news, ADRs of China Petroleum & Chemical Corp. ( SNP ) are down after Bloomberg reports the refiner is planning to collaborate with overseas companies to boost its search for shale gas resources. Shares of Exxon Mobil ( XOM ) are down after it announced a deal with Russian oil major Rosneft under which the companies plan to undertake joint exploration and development of hydrocarbon resources in Russia, the United States and other countries.

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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