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Sector Update: Energy Shares Down in Mid-Day Trading; Crude Futures Shed 2%

NYMEX Benchmark Crude October: (-1.9%) to $87.64

Top Energy Stocks

XOM: -0.1%

CVX: -0.7%

COP: -0.4%

SLB: -2.3%

OXY: -2.0%

Energy shares are lower in mid-day trading as the follow crude oil futures, which are down nearly 2%.

Light, sweet crude for October delivery is trading at $87.45 a barrel, down $1.95, or 2.18%. In other energy futures, heating oil was down 0.43% to $3.01 a gallon while natural gas was down 1.93% to $3.80 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) down 1.94% to $33.93. The United States Natural Gas ETF ( UNG ) is down 1.78% to $9.64.

In mid-day news, Chevron ( CVX ) said today that its chemical company, Chevron Phillips Chemical Co. LLC, will buy a polyalphaolefin manufacturing plant in Belgium from Neste Oil.

The company said that the acquisition is expected to double the production capabilities of Chevron Phillips, which CVX co-owns with ConocoPhillips ( COP ).

Financial terms were not disclosed.

Chevron shares are down 0.62% to $98.64.

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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