Markets
BP

Sector Update: Energy Shares Higher in Late Trading; Crude Futures Finish 1.5% Higher

NYMEX Benchmark Crude January: (+1.5%) to $98.21

Top Energy Stocks

XOM: +2.8%

CVX: +3.6%

COP: +1.4%

SLB: +4.3%

OXY: +4.2%

Energy shares are higher in late trading while crude oil futures manage to hit $100 a barrel before snapping back to end 1.5% in the green.

Light, sweet crude oil for January delivery finished up 1.5% to $98.21 a barrel. In other energy futures, heating oil was up 1.7% to $2.97 a gallon while natural gas was down 5.1% to $3.36 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1.75% to $37.81. The United States Natural Gas ETF ( UNG ) is down 2.99% to $7.77.

In late-session energy news, shares of Chevron Corp. ( CVX ) are higher while Reuters reports the U.S. oil major will brief U.S. offshore regulators on its oil spill off the coast of Brazil.

The meeting was requested by the Interior Department to gauge whether there were any implications for offshore drilling oversight in the U.S., the report said.

CVX shares are up 3.6%, or $3.34, to $95.63.

Meanwhile, ADRs of BP plc ( BP ) are higher as MarketWach reports the company is considering two options for pipelines to transport natural gas from the Shah Deniz field in the Caspian Sea to Europe for the first time.

The options come following a series of accords that have been agreed to between Azerbaijan and Turkey, the report said.

BP ADRs are up 3.35%, or $1.32, to $40.73.

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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