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Sector Update: Energy

Energy shares are higher in late trading while crude oil futures manage to hit $100 a barrel before snapping back to end 1.5% in the green. Light, sweet crude oil for January delivery finished up 1.5% to $98.21 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.75% to $37.81. The United States Natural Gas ETF ( UNG ) is down 2.99% to $7.77. In late-session energy news, shares of Chevron Corp. ( CVX ) are higher while Reuters reports the U.S. oil major will brief U.S. offshore regulators on its oil spill off the coast of Brazil. Meanwhile, ADRs of BP plc ( BP ) are higher as MarketWach reports the company is considering two options for pipelines to transport natural gas from the Shah Deniz field in the Caspian Sea to Europe for the first time.

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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