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Sector Update: Energy Shares in Red in Session's Last Hour After Crude Futures Close Below $100 a Barrel

NYMEX Benchmark Crude July: (-1.2%) to $99.01

Top Energy Stocks

XOM: -0.8%

CVX: -0.8%

COP: -1.7%

SLB: -1.0%

OXY: -1.4%

Energy shares are lower in late-session trading as crude oil futures were unable to find legs before the close. The July contract finished just above $99 a barrel.

Light, sweet crude oil for July delivery finished down 1.2% to $99.01 a barrel. In other energy futures, heating oil was down 1% to $3.02 a gallon while natural gas was up 2.46% to $4.82 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 1.54% to $39.05. The United States Natural Gas ETF (UNG) is up 2.77% at $12.26.

In late-session energy news, Constellation Energy Group ( CEG ) today announced it has terminated an agreement to sell the 550-megawatt Quail Run natural gas plant in West Texas to High Plains Diversified Energy. The agreement was first announced in December.

With the termination of the sale agreement, CEG will retain ownership of the plant, which provides power to the west zone of the Electricity Reliability Council of Texas (ERCOT). Quail Run will provide energy to support customers in West Texas, including those served by StarTex Power, a Houston retail electricity provider recently acquired by the company.

Shares are up 0.41% to $36.86.

Also, shares of Valero Energy ( VLO ) are trending lower as Reuters reports the refiner said it is continuing to work toward closing the acquisition of Chevron's ( CVX ) Pembroke refinery in Wales.

Four people were killed and one was injured at the refinery after an explosion on June 3.

Valero shares are down 3.08%, or $0.81, to $25.52.

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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