Sector Update: Energy Shares Higher as Crude Oil Futures End Atop $91 a Barrel

NYMEX Benchmark Crude December: (+4.4%) to $91.27

Top Energy Stocks

XOM: +0.2%

CVX: +0.9%

COP: +0.6%

SLB: +3.2%

OXY: +0.9%

Energy shares are higher in late-session trading while crude oil futures end with gains topping 4%.

Light, sweet crude oil for November delivery finished up 4.4% to $91.27 a barrel. In other energy futures, heating oil was up 0.81% to $3.04 a gallon while natural gas was down 0.69% to $3.60 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 4.49% to $35.37. The United States Natural Gas ETF ( UNG ) is down 1.19% to $8.71.

In late-session energy news, Chevron ( CVX ) shares are higher as reports that the oil major has begun producing natural gas at its Platong II project in the Gulf of Thailand - a $3.1 billion project.

Ultimately, Chevron is looking to produce 330 million cubic feet per day from the project, the report said.

Chevron share are up 1.02%, or $1.08, to $106.61.

Meanwhile, SemGroup ( SEMG ) has jumped 16.98% to $27.56 a share after Plains All American Pipeline ( PAA ) disclosed today that on October 6, 2011 it submitted a proposal to SemGroup to acquire all of the outstanding shares of SemGroup for $24.00 per share in cash.

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