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Sector Update: Energy Shares Higher; October Crude Tops $89 a Barrel

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NYMEX Benchmark Crude October: (+3.69%) to $89.21

Top Energy Stocks

XOM: +2.1%

CVX: +3.0%

COP: +2.1%

SLB: +2.9%

OXY: +2.2%

Energy shares are higher in mid-day trading while crude oil futures build on prior-session gains to top $89 a barrel.

Light, sweet crude for October delivery is trading up 3.69% to $89.21 a barrel. In other energy futures, heating oil is up 1.92% to $3.06 a gallon while natural gas is up 0.74% to $3.96 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 3.48% to $34.76. The United States Natural Gas ETF ( UNG ) is up 1.41% to $10.04.

In mid-day news, shares of Chevron ( CVX ) are higher after the company announced late yesterday that it discovered an oil reserve at the Moccasin prospect in the deepwater U.S. Gulf of Mexico.

The well is located approximately 216 miles off the Louisiana coast in 6,759 feet of water and was drilled to a depth of 31,545 feet.

Chevron shares are up 3.24%, or $3.10, to $98.71.

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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