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Sector Update: Energy

Energy shares are higher in mid-day trading while crude oil futures pare early gains but remain up over 1.5%. Light, sweet crude oil for January delivery traded down 0.3% to $95.85 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.99% to $37.90. The United States Natural Gas ETF ( UNG ) is down 1.5% to $7.90. In mid-day energy news, shares of Exxon Mobil ( XOM ) are higher as Bloomberg reports the oil major and Russian oil giant OAO Rosneft will present their offshore development plan in February. Meanwhile, shares of Anadarko Petroleum Corp. ( APC ) are seeing firm gains as the company further upgraded its estimates Monday for gas reserves offshore Mozambique that could exceed 30 trillion cubic feet, the company says in a release.

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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