Energy shares are higher as the last hour of trading gets underway and crude oil futures advanced to close near the $100 a barrel mark. Light, sweet crude oil for January delivery finished up 1.6% to $99.79 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.82% to $38.54. The United States Natural Gas ETF ( UNG ) is up 2.3% to $8.00. In late-session energy news, shares of Transocean ( RIG ) are extending losses into the late session with shares off 9%, or $4.48, to $41.46. The oil rig operator said it plans to float 30 million shares and use the proceeds to refinance its acquisition of Aker Drilling. Meanwhile, shares of Schlumberger ( SLB ) are higher as the company said that shale-gas drilling in Poland costs nearly three times as much as in the U.S., according to a Bloomberg report.
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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.
