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Sector Update: Energy Shares Higher While Crude Futures Pare Some Early Gains

NYMEX Benchmark Crude January: (+1.61%) to $98.29

Top Energy Stocks

XOM: +2.9%

CVX: +3.9%

COP: +1.3%

SLB: +4.7%

OXY: +4.5%

Energy shares are higher in mid-day trading while crude oil futures pare early gains but remain up over 1.5%.

Light, sweet crude oil for January delivery traded down 0.3% to $95.85 a barrel. In other energy futures, heating oil was up 1.83% to $2.98 a gallon while natural gas was down 2.51% to $3.45 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1.99% to $37.90. The United States Natural Gas ETF ( UNG ) is down 1.5% to $7.90.

In mid-day energy news, shares of Exxon Mobil ( XOM ) are higher as Bloomberg reports the oil major and Russian oil giant OAO Rosneft will present their offshore development plan in February.

The two companies struck an exploration and development deal earlier this year.

XOM shares are up 2.98%, or $2.20, to $76.10.

Meanwhile, shares of Anadarko Petroleum Corp. ( APC ) are seeing firm gains as the company further upgraded its estimates Monday for gas reserves offshore Mozambique that could exceed 30 trillion cubic feet, the company says in a release. APC shares are up 6.71% to $76.66.

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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