Sector Update: Energy Shares Higher Ahead of the Open; Crude Futures Jump Nearly $3 A Barrel

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NYMEX Benchmark Crude January: +$2.98to $99.75

Top Energy Stocks

XOM: +2.3%

CVX: +2.8%

COP: +2.7%

SLB: +3.4%

OXY: 0.0%

Energy shares are higher in pre-market trading as crude oil futures surged nearly $3 in the early going to trade just under $100 a barrel. The most-active January natural gas contract was up $0.03 to $3.57 per million British thermal units. Shares of Anadarko Petroleum Corp. ( APC ) are seeing firm gains as the company further upgraded its estimates Monday for gas reserves offshore Mozambique that could exceed 30 trillion cubic feet, the company says in a release. Its Barquentine-3 appraisal well "encountered more than 662 net feet (202 meters) of natural gas pay, expanding the estimated recoverable resource range from 15 to more than 30 trillion cubic feet," Houston based Anadarko said in a statement. APC shares are up 4.4% in pre-market trade.

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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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