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Sector Update: Energy Shares Broadly Higher as Crude Oil Futures Surge, Close Above $92 a Barrel

NYMEX Benchmark Crude March: +$2.85 (+3.2%) to $92.19

Top Energy Stocks

XOM: +2.1%

CVX: +1.7%

COP: +1.1%

SLB: +2.2%

OXY: +2.7%

Energy shares are broadly higher in late trading as crude futures surged to top $92 a barrel at the close of commodities trading as investors bet on supplies being constrained from civil unrest in Egypt.

Light, sweet crude oil for March delivery finished up 3.2%, or $2.85, to $92.19 a barrel. In other energy futures, heating oil was up 1.68% to $2.73 a gallon while natural gas was up 2.29% to $4.42 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 2.87% to $38.68. The United States Natural Gas ETF ( UNG ) is up 2.04% to $6.

In late-session energy news, shares of Anadarko Petroleum ( APC ) are higher as the company is expected to report a Q4 profit of $0.21 per share on revenue of $2.753 billion, according to Thomson Reuters.

Anadarko shares are up 3.28% to $76.60.

Earlier today, Exxon Mobil ( XOM ) reported Q4 EPS of $1.85, which topped the $1.27 reported in the year-ago quarter and tops the Street estimate for $1.62.

The gain is based on higher prices and increased production, the AP says. It's the highest profit since Q3 2008. Revenue increased 17 percent to $105 billion. The Street expected $99.1 billion.

Exxon shares are up 2.23% to $80.76.

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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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