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XOM

Sector Update: Energy Shares Climb on Back of Surging Crude Futures

NYMEX Benchmark Crude April: +$2.68 (+2.8%) to $98.10

Top Energy Stocks

XOM: +2.1%

CVX: +2.2%

COP: +2.7%

SLB: +0.3%

OXY: +1.2%

Energy shares are higher in late-session trading as the sector gets a boost from crude oil futures, which surged on concern over supply blips due to unrest in Libya.

Light, sweet crude oil for April delivery finished up $2.68, or 2.8%, to $98.10 a barrel. In other energy futures, heating oil was up 4.33% to $2.91 a gallon while natural gas was up 1.29% to $3.91 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 3.25% to $39.74. The United States Natural Gas ETF ( UNG ) is up 1.19% to $5.26.

In late-session energy news, Chevron ( CVX ), ConocoPhillips ( COP ), ExxonMobil ( XOM ), Royal Dutch Shell (RDS.A) and Tesoro (TSO) were among a group of oil companies sued by a Los Angeles driver over the collection of zip codes from customers paying for gas with credit cards, reports the San Francisco Business Times.

Still, energy shares traded higher throughout the day as crude oil futures surged. Below is a look at share performance of some companies mentioned in the report.

Chevron: +2.2%

ConocoPhillips: +2.7%

ExxonMobil: +2.1%

Royal Dutch Shell: +0.7%

Tesoro: +2.8%

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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