Energy heavyweights were flat to lower at the open of trading Friday. West Texas Intermediate crude oil for October delivery was down $1.45 at $53.90 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude October contract lost $1.08 to $58.84 per barrel and September natural gas futures were 3 cents lower at $2.13 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was down 2.52%, while the United States Natural Gas fund was 1.07% lower.
In other sector news:
(-) Halliburton (HAL), Schlumberger (SLB), and Chevron (CVX) are among the oil rig operators in Venezuela in danger of getting shut down if the Trump administration does not extend the waiver of its sanctions on the country beyond the Oct. 12 deadline, Bloomberg reported. All companies were recently trading lower.
(-) Patterson-UTI Energy (PTEN) was down more than 1% after saying it has entered into a $150 million senior unsecured term loan agreement maturing June 2022.
Price: 32.96, Change: -0.75, Percent Change: -2.22
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