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Sector Update: Energy

Energy shares are sharply higher as crude oil futures advanced to trade at over $101 a barrel after new data showed crude stockpiles rose. The Energy Information Administration said that crude oil inventories rose 3.9 million barrels in the week ended Nov. 25. Light, sweet crude oil for January delivery traded up 1.28% to $101.10 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.01% to $38.94. The United States Natural Gas ETF ( UNG ) is down 1.63% to $7.88. In mid-day energy news, shares of Transocean ( RIG ) are higher while the offshore oil rig operator announced the proposed public offering of senior notes of its wholly-owned subsidiary, Transocean 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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