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Sector Update: Energy

Energy shares are down in mid-session trading while crude oil futures slip under $85 a barrel at the New York Mercantile Exchange. Light, sweet crude for October delivery is trading down 2.51% to $84.31 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.62% to $32.76. The United States Natural Gas ETF ( UNG ) is up 1.44% to $9.85. In mid-day energy news, ADRs of BP ( BP ) are off pre-market declines topping 3% to trade down 1.83%, or $0.67, to $35.86 in regular-session trade. Fox Business reports that the oil giant's Kinnoull Field development in the U.K. North Sea can go ahead as planned, Department of Energy and Climate Change Minister Charles Hendry said Tuesday.

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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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