Energy shares are higher while BP ( BP ) ADRs rise as the company wins its first leases in the Gulf of Mexico since its massive oil spill there last year. Light, sweet crude for February deliver advanced $0.40 to $99.93 a barrel. In energy news, BP won 11 tracts in the latest lease sale held in the region, spending a total of $27.5 million, Forbes reported. Meanwhile, shares of Exxon Mobil ( XOM ) are higher as the New York Times reports that the oil major and its partners are squabbling with the government in Iraq over a $50 million payment that the refiners say Iraq owes them.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.