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Sector Update: Energy Shares Lower; Crude Oil Holding Near $88 a Barrel

NYMEX Benchmark Crude October: 67 cents to $87.91

Top Energy Stocks

XOM: -0.9%

CVX: -1.3%

COP: -1.4%

SLB: -1.5%

OXY: -1.9%

Energy shares are lower in mid-session trading even as the most active crude oil contract is holding near $88 a barrel.

Light, sweet crude for October delivery is trading up 67 cents to $87.91 a barrel. In other energy futures, heating oil is down 1.04% to $2.95 a gallon while natural gas is down 1.89% to $3.88 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 1,65% to $34.07. The United States Natural Gas ETF ( UNG ) is down 1.11% to $9.76.

In mid-day news, shares of ConocoPhillips ( COP ) are down after The Wall Street Journal reported that the U.S. oil major and China's Cnooc are both looking at ways to prevent future oil leaks by reducing undersea oil-reservoir pressure.

The report comes as ConocoPhillips just completed an oil spill cleanup in China.

ConocoPhillips shares are down 1.39% or $0.89, to $63.34.

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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