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Sector Update: Energy Shares Advancing in Late Trade; Crude Futures Advance 1.6%

NYMEX Benchmark Crude January: (+1.6%) to $99.79

Top Energy Stocks

XOM: +1.7%

CVX: +1.9%

COP: +1.4%

SLB: +2.7%

OXY: +2.0%

Energy shares are higher as the last hour of trading gets underway and crude oil futures advanced to close near the $100 a barrel mark.

Light, sweet crude oil for January delivery finished up 1.6% to $99.79 a barrel. In other energy futures, heating oil was up 1.7% to $3.02 a gallon while natural gas was up 3.15% to $3.63 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1.82% to $38.54. The United States Natural Gas ETF ( UNG ) is up 2.3% to $8.00.

In late-session energy news, shares of Transocean ( RIG ) are extending losses into the late session with shares off 9%, or $4.48, to $41.46. The oil rig operator said it plans to float 30 million shares and use the proceeds to refinance its acquisition of Aker Drilling.

Meanwhile, shares of Schlumberger ( SLB ) are higher as the company said that shale-gas drilling in Poland costs nearly three times as much as in the U.S., according to a Bloomberg report.

Schlumberger is the world's largest oilfield services provider.

SLB shares are up 2.45%, or $1.69, to $70.66.

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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