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Sector Update: Energy Shares Higher at Mid-Day; Crude Backing Away from $100 a Barrel

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XOM: +0.7%

CVX: +0.7%

COP: +1.0%

SLB: +0.5%

OXY: +0.2%

Energy shares are higher in mid-day trade, with crude oil futures declining to around $99 a barrel after earlier stopping just short of $100 in an initial bid to trade higher today.

Light, sweet crude oil for February delivery is trading at $99.09 a barrel, down 28 cents. In other energy futures, February heating oil is 1.5 cents higher at $2.92 a gallon and natural gas is down about a penny at 3.023 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is off 0.4% at $38.20. The United States Natural Gas ETF ( UNG ) is down 3.7% to $6.53, establishing a new 52-week low.

In other energy news, BP ( BP ) is now higher, rebounding from morning losses following a Wall Street Journal report saying some of the company's employees may face criminal charges tied to the Deepwater Horizon incident in the Gulf of Mexico that killed 11 people last year. ADRs of BP are up 24 cents to $46.60 each after earlier sliding as low as $46.25, down 11 cents.

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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