Markets

Sector Update: Energy Shares Flat While Crude Oil Futures Rise

Top Energy Stocks

XOM: -0.08%

CVX: flat

COP: flat

SLB: -0.05%

OXY: flat

Energy shares were fairly flat in Wednesday's pre-market trade as crude oil futures were up.

Light, sweet crude oil for October delivery was up 0.29% at $94.13 per barrel. In other energy futures, heating oil was up 0.12% at $2.85 per gallon while natural gas was up 1.09% at $3.99 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.34% at $35.16. The United States Natural Gas ETF ( UNG ) was up 0.28% at $21.70.

In other energy news, Seadrill ( SDRL ) shares lost 4% after the company said Q2 results beat analyst estimates on EPS despite a year-over-year decline in revenues.

The offshore driller reported Q2 EPS of $1.24, down from $3.53 in Q2 2013 but beating analyst estimates of $0.74 for the quarter. Revenues for Q2 were US$1.22 billion, down from $1.26 billion in Q2 2013 and just missing analyst projections of $1.28 billion.

And, Yingli Green Energy ( YGE ), manufacturer of photovoltaic products, Wednesday said it has been contracted by renewable energy company Push Energy to supply multicyrstalline modules for four large-scale photovoltaic power plants in the U.K. Financial terms weren't disclosed.

YGE American Depositary Receipts edged higher by about 1% in recent pre-market trading on Wednesday after closing down to $3.56 Tuesday.

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

SDRL UNG USO

Other Topics

Commodities

Latest Markets Videos