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Sector Update: Energy

Energy shares are lower in mid-day trading while crude oil futures slipped to trade at under $96 a barrel.

Light, sweet crude oil for January delivery traded down $4.43 to $95.71 a barrel.

In energy news, ADRs of China Petroleum & Chemical ( SNP ) - also called Sinopec - are lower while the company moves ahead with acquisitions of natural gas assets despite a negative economic outlook and weak sector profits, the Associated Press reports.

Meanwhile, First Solar ( FSLR ) forecasts 2011 sales in the range of $2.8 to $2.9 bln, down from prior guidance of $3 to $3.3 bln and below the analyst consensus of $3.19 bln on Thomson Reuters. EPS is seen in the range of $5.75 to $6.00, vs. expectations of $6.88 per share.

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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