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Sector Update: Energy

Energy shares are higher in pre-market trading while crude oil futures advance closer to $102 a barrel. January light, sweet crude is up $0.90 to $101.86 according to the CME Group. In energy stocks, L&L Energy ( LLEN ) today announced that its wholly owned coal subsidiary, DaXing- L&L (Guizhou) Coal, has signed a long term joint sales agreement with China Chengtong Metal's subsidiary, China Chengtong Metal Tianjin. LLEN shares are up 4.4%. Meanwhile, Valero Energy ( VLO ) has been downgraded to Hold from Buy at Benchmark Capital. The firm set a price target of $23. VLO shares are up 1.5%.

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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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