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Sector Update: Energy Shares Lower in Late Trading; Crude Gains Top 1%

NYMEX Benchmark Crude October: (+1.1%) to $88.19

Top Energy Stocks

XOM: -1.0%

CVX: -1.4%

COP: -1.3%

SLB: -1.3%

OXY: -2.6%

Energy shares are lower in late-session trading while crude oil futures - bucking a broadly lower market - finished with gains topping 1%.

Light, sweet crude oil for October delivery finished up 1.1% to $88.19 a barrel. In other energy futures, heating oil was down 1.41% to $2.94 a gallon while natural gas was down 0.89% to $3.88 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.77% to $34.13. The United States Natural Gas ETF ( UNG ) is down 0.96% to $9.77.

In late-session energy news, ADRs of Total SA ( TOT ) are lower as Reuters reports the oil firm is prospecting for shale gas in the southeast region of France. The firm also reportedly stressed it would no use a banned hydraulic fracturing drilling method.

Total ADRs are down 2.87%, or $1.28, to $43.73.

Meanwhile, shares of ConocoPhillips ( COP ) are down as The Wall Street Journal reports 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 1.82% or $1.17, to $63.07.

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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