Markets
BP

Sector Update: Energy Shares Higher Despite Lower Finish for Crude; BP Moscow Offices Reportedly Raided

NYMEX Benchmark Crude October: (-0.1%) to $88.81

Top Energy Stocks

XOM: -0.2%

CVX: +0.3%

COP: +0.4%

SLB: +1.1%

OXY: +0.7%

Energy shares are higher even as crude oil futures swung between gains and losses only to end in the red.

Light, sweet crude oil for October delivery finished down 0.1% to $88.81 a barrel. In other energy futures, heating oil was up 0.39% to $3.08 a gallon while natural gas was up 3.58% to $3.08 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is flat at $34.44. The United States Natural Gas ETF ( UNG ) is up 3.6% to $10.20.

In late-session energy news, ADRs of BP plc ( BP ) are higher while the Associated Press reports that armed police searched the British oil major's office in Moscow.

The raid came as a result of a minority shareholder lawsuit, BP said in a statement. BP said it is complying with police.

The raid comes a day after Exxon Mobil ( XOM ) inked an Arctic exploration deal with Russian oil giant Rosneft, which BP had been in the running for earlier this year.

BP ADRs are up 0.1%, or $0.04, to $39.43.

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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