Markets

Sector Update: Energy Shares Tilting Higher; Crude Oil Futures Jump, Trade Near $99 a Barrel

NYMEX Benchmark Crude April: +$1.56 to $98.74

Top Energy Stocks

XOM: +0.4%

CVX: +0.4%

COP: +0.6%

SLB: +0.4%

OXY: 0.0%

Energy shares are trending higher in pre-market trading, and crude oil futures are tipping higher as well. The April contract has risen $1.56 to $98.74 following yesterday's sharp selloff that saw the contract dip below $100 a barrel. ConocoPhillips ( COP ) and Total ( TOT ) have reduced oil output from Libya as a result of the fighting going on in that country, according to Bloomberg. Both have said that Libyan operations have been closed or scaled back. COP shares are up 0.6% while TOT shares are down 0.5%. Shares of Broadwind Energy ( BWEN ) are higher. Broadwind Energy ( BWEN ) initially rallied yesterday after it said Q4 sales rose 47.9% to $47.6 million from a year ago and above the Bloomberg mean for $46.9 million. It lost $0.36 per share including items.

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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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