Markets
UNG

Sector Update: Energy Shares Higher; Royal Dutch Shell Up Despite Oil Spill Report

NYMEX Benchmark Crude September: (+2.13%) to $87.18

Top Energy Stocks

XOM: +2.7%

CVX: +2.7%

COP: +1.8%

SLB: +1.7%

OXY: +3.4%

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 energy ETFs, the United States Oil Fund ( USO ) is up 2.29% to $33.99. The United States Natural Gas ETF ( UNG ) is down 0.49% at $10.20.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

UNG RIG USO

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More