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Sector Update: Energy

Energy shares are flat in pre-market, while crude oil futures are firmly higher.

Light, sweet crude oil for January delivery is trading up $1.04 at $98.38 per barrel. In other energy futures, heating oil is up $0.02 at $3.03 a gallon while natural gas is up $0.05 at $4.28 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1% at $35.26. The United States Natural Gas ETF ( UNG ) is up 1.00% at $20.91.

In other energy news, Talisman Energy Inc. (TLM.TO,TLM) today announced that two of its affiliates have reached agreement to sell their approximately 12% equity interest in the Ocensa Pipeline in Colombia to an investment group led by Advent International for a total cash consideration of approximately US$595 million. Talisman is slightly lower in U.S. pre-market trade.

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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