Energy Sector Report: February 3rd, 2011

Energy shares are mostly lower in mid-day trading as crude oil futures decline but trade above the $90-a-barrel mark. Light, sweet crude oil for March delivery traded down $0.26, or 0.3%, to $90.58 a barrel. In mid-day news, ADRs of Royal Dutch Shell (RDS.A) are down after the European oil major reported earnings that came short of what analysts were expecting. Meanwhile, Tesoro (TSO) shares are down after Reuters reported that the US refiner said that a fire last month at the company’s 58,000 barrel per day refinery in North Dakota had a minimal impact on production. The refinery has reportedly run beyond its planned rates and repairs are expected to finished in March, the report said.

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