Markets

Sector Update: Energy Shares Lower While Crude Futures Advance Above $89 a Barrel

Top Energy Stocks

XOM: -0.3%

CVX: -0.01%

COP: -0.1%

SLB: -0.2%

OXY: +0.1%

Energy shares are heading mostly lower even as crude futures move higher, topping $89 a barrel ahead of the opening bell for equities. Light, sweet crude oil for October delivery traded up $1.43 to $89.62 a barrel. Shares of U.S. oil major Exxon Mobil ( XOM ) are lower while Bloomberg reports the U.S. oil major is in talks with Russian oil firm Rosneft to develop the Val Shatskogo project on the Black Sea. XOM shares are down 0.3%. Meanwhile, Encana ( ECA ) shares are higher as Reuters reports it is in talks with potential partners that could lead to shale gas exploration in Poland. Encana is up 0.5% ahead of the open.

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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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