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Sector Update: Energy Lower as Disappointing GDP Data Pushes Down Oil Prices

Dow Jones U.S. Oil & Gas Index: 461.65 Thursday regular session close

NYMEX Benchmark Crude: -0.54 (-0.54%) to 77.09

Top Energy Stocks

XOM: -0.48%

CVX: -0.47%

SLB: -0.94%

OXY: +0.14%

COP: -0.13%

Energy issues are mostly lower before the bell, as oil prices fell following the release of the latest U.S. GDP data that was slightly weaker than expected. Bloomberg reported that BP plc ( BP ) declined an offer by China Petroleum & Chemical Corp. ( SNP ) to buy some of its assets, according to the Chinese refinery group better known as Sinopec. French oil giant Total SA ( TOT ) posted a 72% increase in second quarter profit as earnings reached 2.96 billion euros from 1.68 billion euros a year ago. The company's production rose 8% to reach 2.359 million barrels of oil equivalent a day, boosted by the start of a second train at its Yemen LNG project as well as improved security in Nigeria.

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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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