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Sector Update: Energy

Energy shares are mixed in mid-day trading as crude oil futures add to early-session gains to trade above $88 a barrel. Light, sweet crude oil for October delivery traded up 1.73% to $88.78 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.35% to $34.42. The United States Natural Gas ETF ( UNG ) is up 1.24% to $9.79. In mid-day energy news, 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 deal includes a $3.2 billion exploration program for Kara Sea and Black Sea and the establishment of joint Arctic Research and Design Center for Offshore Development in St. Petersburg.

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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