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Sector Update: Energy Shares Down as Crude Slips; Schlumberger Leads Decliners

NYMEX Benchmark Crude October: (-2.9%) to $85.34

Top Energy Stocks

XOM: -2.4%

CVX: -2.4%

COP: -1.9%

SLB: -3.3%

OXY: -2.0%

Energy shares are down in mid-day trading while crude oil futures drop below $86 a barrel and the broader equities market undergoes a sell-off.

Light, sweet crude for October delivery is trading down 2.9% to $85.34 a barrel. In other energy futures, heating oil is down 2.3% to $2.93 a gallon while natural gas is down 0.13% to $3.80 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 3.28% to $33.02. The United States Natural Gas ETF ( UNG ) is down 0.72% to $9.60.

In mid-day news, shares of Exxon Mobil ( XOM ) are down while Bloomberg reports the oil major may start its Silvertip pipeline today or tomorrow.

The pipeline ruptured in July, which caused oil to flow into the Yellowstone River. The pipeline is now buried 60 feet to 70 feet underground.

Exxon shares are down 2.47%, or $1.84, to $72.71.

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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