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03:51 PM Eastern Standard Time, 03/11/2010 (MidnightTrader) — NYMEX Benchmark Crude Apr: +$0.02 (+0.1%) to $82.11
Top Energy Stocks
XOM: -0.18%
CVX: -0.23%
COP: -0.71%
SLB: -0.56%
OXY: +0.33%
Energy shares were mostly lower Thursday as oil ticked up slightly.
Crude for April delivery rose 2 cents to settle at $82.11 a barrel on the New York Mercantile Exchange.
Crude had come under some pressure earlier in the day as Chinese economic reports fueled concerns that Beijing might further tighten access to money to cool growth, leading to less demand from one of the world’s biggest oil consumers.
In energy stocks, Clean Energy Fuels (CLNE) reported a narrower-than-expected fourth-quarter loss which drove investor interest in the stock on Thursday. For the latest fourth quarter, net loss was $1.9 million, or $0.03 a share, compared with a loss of $23.7 million, or $0.49 a share, last year.
Total revenues for the quarter rose 49% to $42.2 million, driven by a 58% increase in gasoline gallon equivalents sold. Clean Energy shares were up 17.39%, or $3.36, to $22.68.
Also Thursday, Exxon Mobil (XOM) said it will increase its capital spending nearly 4% this year to $28 billion as it evaluates new fields around the world. At the same time, executives cautioned that the global economy remained unsteady.
Exxon Mobil shares were down 0.25%, or $0.16, to $67.05.
BP Plc (BP) announced that it will pay $7 billion for Devon Energy Corp’s (DVN) assets in Brazil, the Gulf of Mexico, and Azerbaijan. The move is expected to strengthen BP’s production lead over Exxon Mobil Corp (XOM).
Heating oil for April rose $0.01 to $2.11 a gallon, while gasoline for the same month fell $0.01 to $2.27 a gallon. Natural gas fell 2.54%, or $0.11, to close at $4.43.
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