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Sector Update: Energy

Energy shares are down in mid-day trading while January crude futures trended down to under $100 a barrel at the New York Mercantile Exchange. Light, sweet crude oil for January delivery traded down 1.6% to $98.90 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 1.44% to $38.26. The United States Natural Gas ETF ( UNG ) is up 1.39% to $7.66. In mid-day energy news, shares of Exxon Mobil ( XOM ) are down while MarketWatch reports the oil major sees demand for electricity pushing the energy industry. The comments came as a part of its Energy Outlook. The report concluded that natural gas will gain market share while oil will remain the most widely-used fuel.

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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