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.
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