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Sector Update: Energy Shares Down in Late Trading; Crude Oil Pares Early Losses to Finish in Green

NYMEX Benchmark Crude October: (+0.13%) to $85.30

Top Energy Stocks

XOM: -1.3%

CVX: -0.5%

COP: -1.0%

SLB: -2.6%

OXY: -0.9%

Energy shares are down in late-session trading even as crude oil futures pare early losses to finish higher - above $85 a barrel.

Light, sweet crude oil for October delivery finished up $0.14 to $85.30 a barrel. In other energy futures, heating oil was up 0.52% to $2.97 a gallon while natural gas was flat at $3.92 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.21% to $33.15. The United States Natural Gas ETF ( UNG ) is up 0.46% at $9.82.

In late-session energy news, shares of Valero Energy ( VLO ) are down as the refiner said that it has opened a a trading office in London's Canary Wharf, according to a Reuters report on the matter.

The move comes on the heels of Valero's completion of its acquisition of Chevron's ( CVX ) Pembroke refinery, the report said.

There was fatal explosion at the Pembroke refinery in June when it was still owned by Chevron, the report noted.

Valero shares are down 0.68%, or $0.14, to $20.32.

Meanwhile, shares of Exxon Mobil ( XOM ) are down as Reuters reports that workers at the oil major's Papua New Guinea plant site have been on strike since Monday.

As many as 100 workers are on strike, the report said, but Exxon is expecting a rapid resolution to the problem to prevent delay on the $15 billion project.

Exxon shares are down 1.33%, or $0.98, to $72.56.

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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