Markets

Sector Update: Energy Shares Higher; Crude Gains to Top $95 a Barrel

NYMEX Benchmark Crude January: (+$0.96) to $95.91

Top Energy Stocks

XOM: +0.7%

CVX: +0.8%

COP: +0.6%

SLB: +1.1%

OXY: +0.4%

Energy shares are higher in mid-day trading while crude oil futures advance to trade above $95 a barrel. Light, sweet crude oil for January delivery traded up $0.96 to $95.91 a barrel.

Arch Coal ( ACI ) today announced that it was the successful bidder for the South Hilight tract, a federal coal lease in the southern Powder River Basin, which encompasses parts of Wyoming and Montana. It contains an estimated 222 million tons of minable coal reserves in Campbell County, Wyoming.

ACI bid $1.35 per ton for the 1,977 acre tract, for a full bid amount of $300 million. This will be paid in five installments of $60 million each. The company has paid the first installment immediately. ACI is up 0.4%

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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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