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Sector Update: Energy

Energy shares are down in late-session trading as crude oil futures dip over 2% to finish at three-week lows. Light, sweet crude oil for October delivery finished down 2.6% to $85.70 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.55% to $33.27. The United States Natural Gas ETF ( UNG ) is down 0.1% to $9.66. In late-session energy news, Statoil ( STO ) announced today that it has signed an Energy Partnership agreement with the University of Texas at Austin to provide the university with an annual funding of $1 million for 5 years. Meanwhile, shares of Exxon Mobil ( XOM ) are down while Bloomberg reports the oil major may start its Silvertip pipeline today or tomorrow.

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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