Markets

Sector Update: Energy

Energy shares were flat to higher in pre-market trade Tuesday as crude oil futures rose.

Light, sweet crude oil for August delivery was up 0.24% at $104.84 per barrel. In other energy futures, heating oil was up 0.45% at $2.87 per gallon while natural gas was down 1.07% at $3.81 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.13% at $38.05. The United States Natural Gas ETF ( UNG ) was down 1.17% at $21.06.

In other energy news, Comstock Mining ( LODE ) today reported its financial results for the quarter ending June 30, 2014, reporting a Q2 net loss of $3.4 million, compared with a loss of $5.5 million in Q2 2013.

Comstock said the $2.1 million decrease in net loss primarily resulted from a $2.9 million decrease of costs applicable to mining and operating expenses, offset by lower revenue of $0.8 million resulting primarily from a lower average price of gold.

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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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