NYMEX Benchmark Crude January: +$0.20 (+0.22%) to $88.48
Top Energy Stocks
Energy shares are trending lower as the major indexes move into the red and crude oil futures pares some earlier gains.
Crude oil for January delivery traded up $0.20, or 0.22%, to $88.48 a barrel. In other energy futures, heating oil was up 0.29% to $2.47 a gallon while natural gas fell 0.63%, to $4.22 per million British thermal units.
The U.S Dollar Index (DXY) is up 0.81% to $80.01.
In sector news, Chevron ( CVX ) and Shell (RDS-A) are forming a joint venture to build a 136-mile pipeline to transport crude oil from a Chevron hub in the Jack and St. Malo deepwater fields in the Gulf of Mexico to a platform owned and operated by Shell.
The new hub facility is expected to produce about 170,000 barrels per day starting in 2014.
Chevron shares are down 0.03%, or $0.03, to $88.34. Shell ADRs are down 1.65%, or $1.09, to $64.87.
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