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Sector Update: Energy Stocks Weighed, Crude Futures Dip Toward $101 Per Barrel

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Top Energy Stocks

XOM: -0.15% in pre-market trade

CVX: -0.1% pre-market

COP: +0.01% after hours, rose 1.5% regular hours Wednesday

SLB: -0.5% after hours, gained 1.8% regular hours Wednesday.

OXY: -0.07% after hours, also gained 1.8% yesterday.

Energy shares are lower in pre-market, while crude oil futures are also lower.

Light crude oil for November delivery is trading down $0.48 at $101.81 a barrel.

In other energy futures, heating oil is down $0.01 at $3.03 a gallon while natural gas is flat at $3.77 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is flat at $36.91. The United States Natural Gas ETF ( UNG ) is flat at $19.34.

In other energy news, EXCO Resources, Inc. ( XCO ) subsidiary, EXCO Operating Company, and an affiliate of BG Group plc have entered into a definitive agreement to convey 100% of the equity interest in TGGT Holdings to Azure Midstream Holdings LLC for about $910 million.

Of this, $875 million will be in cash and the remaining portion will be in the form of an approximate 8% equity interest in Azure split equally between EXCO and BG Group, subject to closing adjustments and customary terms and conditions.

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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