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Sector Update: Energy Shares Down; Crude Futures Tipping Lower

NYMEX Benchmark Crude November: (-0.21%) to $86.62

Top Energy Stocks

XOM: -0.6%

CVX: -1.0%

COP: -0.3%

SLB: -3.1%

OXY: -1.9%

Energy shares are down at the session's half along with the broader market while crude oil futures are holding above $86 a barrel.

Light, sweet crude for November delivery is trading down 0.21% to $86.62 a barrel. In other energy futures, heating oil is down 0.69% to $3.03 a gallon while natural gas is down 0.43% to $3.68 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1% to $33.53. The United States Natural Gas ETF ( UNG ) is down 0.52% to $8.98.

In mid-day news, Halliburton ( HAL ) is down after concern about shaky oil prices overshadowed a Q3 earnings and revenue Street beat.

The company reported earnings of $683 million, or 74 cents per share, compared with $544 million, or 60 cents per share, last year, a 26% gain. Ex-items, income was 94 cents per share. The Street was looking for a consensus 91 cents. Revenue jumped 40.4% to $6.55 billion, ahead of the Street's consensus for $6.35 billion.

Oil prices fell 12.5% from the second to third quarter amid concern that slowing global demand will weigh in the coming year.

Halliburton shares are down 7.16% to $34.75.

Meanwhile, AmeriGas Partners ( APU ) has slipped after briefly trading higher. The company announced that it has reached a definitive agreement to acquire the propane operations of Energy Transfer Partners ( ETP ) for approximately $2.9 billion, including $1.5 billion in cash, approximately $1.3 billion in AmeriGas common units, and the assumption of $71 million in debt.

Shares of Energy Transfer Partners are down 0.41% to $45.73.

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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