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Sector Update: Energy Shares Gain as Crude Futures Near $87 a Barrel

NYMEX Benchmark Crude March: +$0.59 (+0.68%) to $86.94

Top Energy Stocks

XOM: +0.4%

CVX: +1.0%

COP: +1.3%

SLB: +0.5%

OXY: +1.0%

Energy shares gain as crude futures near $87 a barrel on continuing unrest across the Middle East.

Light, sweet crude oil for March delivery is trading up $0.59, or 0.68%, at $86.94 a barrel. In other energy futures, heating oil is down 0.39% to $2.72 a gallon while natural gas is down 0.10% to $3.86 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.42% to $36.20. The United States Natural Gas ETF ( UNG ) is flat at $5.21.

In mid-day news, shares of ConocoPhillips ( COP ) are higher after the oil major confirmed that work has started at the Ponca City refinery in Oklahoma, Bloomberg reported. Also, the refiner yesterday started to shut a fluid catalytic cracker for maintenance at its Sweeny refinery in Texas. That work is expected to last until March 3.

ConocoPhillips shares are also benefitting from higher crude prices.

ConocoPhillips shares are up 1.5%, or $1.13, to $76.64.

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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