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Sector Update: Energy

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Energy shares are higher in late trading as crude oil futures advanced to close atop $100 a barrel at the New York Mercantile Exchange. Light, sweet crude oil for January delivery finished up 0.8% to $100.96 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.96% to $38.98. The United States Natural Gas ETF ( UNG ) is down 1.43% to $7.91. In late-session energy news, shares of ConocoPhillips ( COP ) are higher while the company announced a 2012 capital program of $15.5 billion and a program to repurchase up to an additional $10 billion of the company's common stock. The company additionally provided an update on its $15-20 billion asset divestiture program for 2010-2012.

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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