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Sector Update: Energy Shares Lower in Late Trading; Crude Slips, Ends Atop $89

NYMEX Benchmark Crude October: (-0.3%) to $89.05

Top Energy Stocks

XOM: -0.7%

CVX: -0.9%

COP: -2.4%

SLB: -1.5%

OXY: -1.4%

Energy shares are lower as the last hour of the regular session gets under way and crude oil futures finished fractionally lower but above $89 a barrel.

Light, sweet crude oil for October delivery finished down 0.3% to $89.05 a barrel. In other energy futures, heating oil was down 0.98% to $3.04 a gallon while natural gas was up 0.79% to $3.04 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.43% to $34.54. The United States Natural Gas ETF ( UNG ) is up 1.11% to $10.04.

In late-session energy news, Valero Energy ( VLO ) is up 3.8% after CEO William Klesse reportedly said at Barclays Plc conference that the company will earn at least $2 a share excluding some items in Q3, beating the Bloomberg estimate for $1.45.

Meanwhile, Statoil ( STO ) is keeping some gains in the late session after it was upgraded to Buy from Neutral at UBS. Shares closed $23.17. Statoil shares are up 0.39%.

Also, Exxon Mobil ( XOM ) is still down even as it was upgraded to Buy from Neutral at UBS based on relative valuation. Price target remains $90. Shares are down 0.8%.

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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