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Sector Update: Energy

Energy shares traded generally mixed in pre-market trade Thursday as crude oil futures were down.

Light, sweet crude oil for July delivery was down 0.31% at $102.32 per barrel. In other energy futures, heating oil was up 0.13% at $2.85 per gallon while natural gas was up 0.75% at $4.68 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was flat at $37.51. The United States Natural Gas ETF ( UNG ) was flat at $25.70.

In other energy news, Abraxas Petroleum ( AXAS ) has been upgraded by analysts at SunTrust Robinson-Humphrey to a buy rating from neutral. The firm also raised its price target on shares of the oil and gas company to $6 from $5.

The upgrade comes the day after AXAS revised its barrels of oil equivalent per day (boepd) production estimates to between 5,500-5,700 from prior estimates of 5,200-5,300 at the company's Eagle Ford and Williston Basin properties.

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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