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Sector Update: Energy

Energy shares are mixed to higher in late trading while crude oil futures pared mid-day declines to finish higher, atop $101 a barrel. Light, sweet crude oil for January delivery finished up 0.3% to $101.28 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 0.21% to $39.09. The United States Natural Gas ETF ( UNG ) is up 0.52% to $7.67. In late-session energy news, shares of Chevron ( CVX ) are higher while Bloomberg reports the refiner may invest up to $40 billion to produce about 5 billion barrels of extra oil from a field along the border of Saudi Arabia and Kuwait. Meanwhile, Exxon Mobil ( XOM ) shares are higher while Bloomberg reports that the comapny sees Abu Dhabi changing the terms of its main oil producing concession - which dates back to 1993 - when it expires in 2014.

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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