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Sector Update: Energy

Energy shares are higher as the last hour of trading gets underway and crude oil finished at its highest closing price since September 15. Light, sweet crude oil for November delivery finished up 2.3% to $88.34 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 2.3% to $34.20. The United States Natural Gas ETF ( UNG ) is down 3.12% to $8.70. In late-session energy news, shares of Chevron ( CVX ) are higher while The Wall Street Journal reports the U.S. oil major is planning to begin drilling it first gas exploration well before the end of the year off the coast of China. Meanwhile, Brigham Exploration ( BEXP ) is downgraded to Market Perform from Outperform at Northland Securities. The firm's price target is lowered to $36.50 from $42.

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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