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Sector Update: Energy

Energy shares are mixed to higher in mid-day trading while crude oil futures have pared some prior-session losses.

Light, sweet crude oil for January delivery traded up $2.14 to $99.91 a barrel.

The International Energy Agency said on Tuesday that it has lowered its forecasts for global oil demand for 2011 and 2012 by 160,000 barrels a day and 200,000 barrels a day, respectively.

Meanwhile, shares of ConocoPhillips ( COP ) are higher while Bloomberg reports that a unit of the oil major is being sued by 100 Chinese fisherman seeking $77 million in compensation after an oil spill in June, citing the official Xinhua news agency.

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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