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Sector Update: Energy Shares Mixed Ahead of the Close; Crude Finishes Higher

NYMEX Benchmark Crude June: (+$0.76) to $98.97

Top Energy Stocks

XOM: -0.1%

CVX: +0.4%

COP: -1.2%

SLB: +2.0%

OXY: -0.4%

Energy shares are mixed in late-session trading as crude oil futures manage to shake off early losses to finish in positive territory.

Light, sweet crude oil for June delivery finished up $0.76 to $98.97 a barrel. In other energy futures, heating oil was up 0.5% to $2.91 a gallon while natural gas was up 0.31% to at $4.19 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.25% to $39.25. The United States Natural Gas ETF ( UNG ) is flat at $10.80.

In late-session energy news, shares of Halliburton ( HAL ) are higher as the oilfield services firm said it should continue to see margins in North America improve even as materials needed to extract oil and natural gas are seeing shortages, MarketWatch reported.

Operating income for North America at Halliburton rose to $732 million while and revenue grew 75%, the report said.

Halliburton shares are up 0.47%, or $0.22, to $46.63.

Also, executives from the major oil refiners defended the tax breaks they receive before Congress, which has been seeking ways to reign in the deficit.

One executive, Exxon Mobil ( XOM ) Chief Executive Officer Rex Tillerson told Congress that based only on supply and demand, crude oil prices should be in the range of $60 to $70 a barrel, Reuters reports.

Exxon shares are down 0.1%.

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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