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Sector Update: Energy Shares Mixed to Higher in Mid-Day Trading; Crude Advances

NYMEX Benchmark Crude January: (+$2.14) to $99.91

Top Energy Stocks

XOM: +1.9%

CVX: +1.9%

COP: +0.3%

SLB: -0.01%

OXY: +1.2%

Energy shares are mixed to higher in mid-day trading while crude oil futures have pared some prior-session losses.

Light, sweet crude oil for January delivery traded up $2.14 to $99.91 a barrel.

The International Energy Agency said on Tuesday that it has lowered its forecasts for global oil demand for 2011 and 2012 by 160,000 barrels a day and 200,000 barrels a day, respectively.

The agency cites the "more precarious economic backdrop" and weaker fourth-quarter data.

Meanwhile, shares of ConocoPhillips ( COP ) are higher while Bloomberg reports that a unit of the oil major is getting sued by 100 CHinese fisherman seeking $77 million in compensation after an oil spill in June, citing the official Xinhua news agency.

COP shares are up 0.3%.

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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