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Sector Update: Energy

Energy shares are lower in mid-day trading in step with crude oil futures, which are down nearly 2%. Light, sweet crude for October delivery is trading at $87.45 a barrel, down $1.95, or 2.18%. In energy ETFs, the United States Oil Fund ( USO ) is down 1.94% to $33.93. The United States Natural Gas ETF ( UNG ) is down 1.78% to $9.64. In mid-day news, Chevron ( CVX ) said today that its chemical company, Chevron Phillips Chemical Co. LLC, will buy a polyalphaolefin manufacturing plant in Belgium from Neste Oil.

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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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