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Sector Update: Energy

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Energy shares are mixed in mid-day trading as the broader market downshifts and crude oil futures slip to trade under $101 a barrel. Light, sweet crude oil for January delivery finished down 0.33% to $100.62 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 0.31% to $38.89. The United States Natural Gas ETF ( UNG ) is up 0.26% to $7.65. In mid-day energy news, shares of Chevron ( CVX ) are higher while Bloomberg reports that the company could be fined $84 million by Rio de Janiero for environmental damage due to the oil spill at the company's Frade project off the coast of that country. Meanwhile, Exxon Mobil ( XOM ) shares are higher while Bloomberg reports that the comapny sees Abu Dhabi to changing the terms of its main oil producing concession - which dates back to 1993 - when it expires in 2014. XOM shares are up 0.2%.

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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