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BP

Sector Update: Energy Shares Drift Lower as Crude Futures Trade Below $82 a Barrel; BP Facing Alaska Court Date

NYMEX Benchmark Crude January: -$0.88 (-1.07%) to $81.54

Top Energy Stocks

XOM: -0.4%

CVX: -0.5%

COP: -0.1%

SLB: -0.3%

OXY: -0.1%

Energy shares are in negative territory as crude futures trade below $82 a barrel at mid-day.

Crude oil for January delivery traded down $0.88, or 1.07%, at $81.54 a barrel. In other energy futures, heating oil is down 1.36% to $2.26 a gallon while natural gas rose 2.99%, to $4.12 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1.15% to $35.09. The United States Natural Gas ETF ( UNG ) is up 2.6% to $5.9.

In sector news, ADRs of BP ( BP ) are in lower territory as the British oil major faces a Dec. 20 federal court date in Anchorage, Alaska regarding a 2006 oil pipeline spill on the tundra near Prudhoe Bay and the firm's resulting criminal probation.

More fines could result from the action, reports The Wall Street Journal.

BP ADRs are down 1.04%, or $0.44, to $41.77.

Meanwhile, ExxonMobil ( XOM ) put a crude oil unit at its Trecate refinery in Italy "back in operation" after a fire more than two months ago, Bloomberg noted.

The plant is slowly resuming normal production and that repairs are completed and technical checks and controls have been undertaken, the report said.

ExxonMobil shares are down 0.33%, or $0.23, to $70.06.

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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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