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Sector Update: Energy

Energy shares were pointing higher in Tuesday's pre-market trade as crude oil futures were up.

Light, sweet crude oil for October delivery was up 0.24% at $93.57 per barrel. In other energy futures, heating oil was up 0.14% at $2.85 per gallon while natural gas was down 0.74% at $3.91 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.23% at $34.95. The United States Natural Gas ETF ( UNG ) was up 0.23% at $34.95.

In other energy news, Cimarex Energy ( XEC ), an oil and gas exploration and production company, said Tuesday that it has signed various purchase and sale agreements to sell $326 million of oil and gas assets.

Included is the sale of 4,200 net acres and associated wells in the Midland Basin located in Reagan County, Texas, for $242 million. An additional $84 million of non-core properties in the Mid-Continent and Gulf Coast are also being sold.

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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