Energy shares traded mixed in pre-market trade Wednesday as crude oil futures were lower along with the broader stock market.
Light, sweet crude oil for June delivery was down 1.18% at $100.08 per barrel. In other energy futures, heating oil was down 0.57% at $2.95 per gallon while natural gas was down 0.31% at $4.82 per million British thermal units.
In other energy news, Hess Corp ( HES ), an exploration and production company, was up 2.3% at $90.00 after it said Q1 adjusted income declined, primarily because of the impact on operating income of the divestment of assets, but the results far exceeded forecasts.
Adjusted earnings were $446 million or $1.38 per common share, compared with $669 million or $1.95 per share in the prior year quarter and above estimates for $1.07, according to Capital IQ.
On a reported basis, net income was $1.20 compared with $3.72 a year ago.
Total revenue came in at $2.6 billion, above forecasts for $2.2 billion.
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