NYMEX Benchmark Crude June: (-0.21%) to $98
Top Energy Stocks
Energy shares are down in mid-day trading as crude oil executives testify before a congressional panel and crude oil futures trade to the downside.
Light, sweet crude for June delivery is trading down 0.21% to $98 a barrel. In other energy futures, heating oil is up 0.4% to $2.91 a gallon while natural gas is down 0.24% at $4.17 per million British thermal units.
Executives from the major oil refiners defended the tax breaks they receive before Congress, which has been seeking ways to reign in the deficit.
One executive, Exxon Mobil ( XOM ) Chief Executive Officer Rex Tillerson told Congress that based only on supply and demand, crude oil prices should be in the range of $60 to $70 a barrel, Reuters reports.
Exxon shares are down 0.8%.
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