TheNewsRoom | Energy Sector Update: February 9th, 2011

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Energy Sector Update: February 9th, 2011

February 21, 2011

Energy shares are lower even as crude oil futures show signs of life after ending lower yesterday. The March contract was up by 40 cents, according to data from CME Group. In energy sector news, Royal Dutch Shell (RDSA) and BP (BP) are planning to close and sell refineries in the US and Germany due to declining demand for fuels like gasoline, Bloomberg reports. Shell ADRs are down 1.2% in pre-market. BP is down 1.2% in pre-market.