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Sector Update: Energy

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Energy shares traded fairly flat in pre-market trade Wednesday as crude oil futures were higher.

Light, sweet crude oil for June delivery was up 0.30% at $102.01 per barrel. In other energy futures, heating oil was up 0.27% at $2.95 per gallon while natural gas was up 0.89% at $4.40 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.30% at $37.15. The United States Natural Gas ETF ( UNG ) was up 0.50% at $24.33.

In other energy news, Hydrogenics ( HYGS ) shares were down more than 21% in pre-market trades after it said it priced a public offering of 1.5 million shares at $15 per share.

And, Forbes Energy Services ( FES ) reported a smaller-than-expected Q1 loss as well as sales that topped analysts' estimates.

The oilfield services contractor said its Q1 loss from continuing operations narrowed to $0.07 per share from a loss of $0.13 the year earlier, better than the $0.18 average loss expected by analysts polled by Capital IQ. Sales rose to $109.9 million from $101.7 million, exceeding the $105 million consensus estimate.

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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