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Sector Update: Energy Shares Higher Pre-Market; Crude Oil Futures Rise

Top Energy Stocks

XOM: +0.20%

CVX: +0.03%

COP: +0.06%

SLB: +0.03%

OXY: flat

Energy shares were higher in pre-market trade Wednesday while crude oil futures were trading higher.

Light, sweet crude oil for April delivery was up 0.5% at $102.36 per barrel. In other energy futures, heating oil was up 0.02% at $3.04 per gallon while natural gas was down 2.45% at $4.58 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was flat at $36.59. The United States Natural Gas ETF ( UNG ) was down 3.49% at $24.96.

In other energy news, oil-and-gas company Chesapeake Energy ( CHK ) swung to a Q4 loss on charges related to a reduction of leverage and balance-sheet complexity, and its adjusted earnings missed Street estimates even as revenue rose more than expected.

The company posted a Q4 net loss available to common stockholders of $159 million, or $0.24 per share, compared with a prior-year profit of $250 million, or $0.39 per share. The latest quarter included charges that were the result of the company's strategic decision to reduce leverage and balance-sheet complexity.

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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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