Markets
USO

Sector Update: Energy Shares Down in Late Trading; Crude Oil Dips, Ends Under $86 a Barrel

NYMEX Benchmark Crude October: (-2.6%) to $85.70

Top Energy Stocks

XOM: -1.6%

CVX: -1.5%

COP: -1.2%

SLB: -3.0%

OXY: -1.1%

Energy shares are down in late-session trading as crude oil futures dip over 2% to finish at three-week lows.

Light, sweet crude oil for October delivery finished down 2.6% to $85.70 a barrel. In other energy futures, heating oil was down 2.2% to $2.94 a gallon while natural gas was up 0.81% to $3.84 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 2.55% to $33.27. The United States Natural Gas ETF ( UNG ) is down 0.1% to $9.66.

In late-session energy news, Statoil ( STO ) announced today that it has signed an Energy Partnership agreement with the University of Texas at Austin to provide the university with an annual funding of $1 million for 5 years.

Under the agreement, the university will partner with STO for research and technology development, especially in the areas of geology, geophysics and petroleum engineering.

Shares are down 3.18% to $22.26.

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

The pipeline had 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 1.68%, or $1.25, to $73.30.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

USO UNG XOM

Other Topics

Commodities

Latest Markets Videos