NYMEX Benchmark Crude September: (+2.13%) to $87.18
Top Energy Stocks
Energy shares are trading broadly higher as crude oil futures continue paring last week's losses to trade above $87 a barrel.
Light, sweet crude oil for September delivery traded up 2.1% to $87.18 a barrel. In other energy futures, heating oil is up 0.98% to $2.93 a gallon while natural gas is down 0.02% to $4.05 per million British thermal units.
In mid-day news, ADRs of Royal Dutch Shell (RDS.A) are up 0.66% to $66.07 in regular-session trading while the British government said several hundred tons of oil may have leaked into the North Sea from the company's Gannet Alpha platform off the Scottish coast, the AP reported.
Meanwhile, shares of Transocean ( RIG ) are higher on the company's plans to acquire Norwegian drilling rig operator Aker Drilling ASA at a 62% premium in a deal valued at $2.23 billion.
Under the transaction, Transocean, which owned the rig at the center of last year's catastrophic U.S. Gulf of Mexico oil spill, has made a voluntary $4.83 per share cash offer for all outstanding shares in the company.
Transocean shares are up 3.09%, or $1.72, to $57.33.
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