Markets

Sector Update: Energy Shares Higher; Crude Tops $98 a Barrel

NYMEX Benchmark Crude July: (+1.53%) to $98.78

Top Energy Stocks

XOM: +1.7%

CVX: +2.1%

COP: +1.8%

SLB: +2.2%

OXY: 2.4%

Energy shares are higher in mid-day trading as crude oil futures turn higher to pare some prior-session losses. The July contract is now trading over 98 a barrel.

Light, sweet crude for July delivery is trading up 1.5% to $98.78 a barrel. In other energy futures, heating oil was up 0.8% to $3.13 a gallon while natural gas was down 0.93% to $4.60 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is up 1.83% to $38.96. The United States Natural Gas ETF (UNG) is down 1.15% at $11.65.

In mid-day energy news, Cloud Peak Energy ( CLD ), a U.S. coal producer, today, announced an agreement with Westshore Terminals LP to permit coal shipments through the Westshore Terminal in Vancouver, BC for ten years. CLD exported 3.3 mln tons to Asian customers in 2010 through the terminal.

The contract will commence in 2013 once the current contract ends, pending a definitive agreement between the parties.

CLD shares are up 4.61% to $20.41 on the NYSE.

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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