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Sector Update: Energy

Energy shares were flat in pre-market trade Monday as crude oil futures traded lower.

Light, sweet crude oil for May delivery was down 0.81% at $100.32 per barrel. In other energy futures, heating oil was down 0.92% at $2.88 per gallon while natural gas was up 1.22% at $4.49 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.60% at $36.21. The United States Natural Gas ETF ( UNG ) was up 1.2% at $25.00.

In energy stocks news, Flotek ( FTK ) expects Q1 revenue should exceed $102 million, an increase of over 31% from the same period in 2013. The analyst consensus on Capital IQ calls for revenue of $105 million.

The company previously noted that holidays and severe winter weather had an impact on the first weeks of 2014. However, despite the weakness in the first-half of January, revenue growth accelerated consistently in the quarter, a trend - with the exception of the impact of the annual winter break-up in Canada - the company expects should continue in the second quarter, it said in a statement.

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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