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Energy Sector Update: June 1, 2011

Financial News Network
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June 02, 2011 AT 9:15 PM
Energy shares are down in mid-day trading as crude oil futures fall below $101 a barrel at the New York Mercantile Exchange. Light, sweet crude for July delivery is trading down 1.8% to $100.85 a barrel. In mid-day news, shareholders for both Alpha Natural Resources (ANR) and Massey Energy Co. (MEE) today at their respective special stockholders' meetings said that they have approved various proposals related to Alpha's acquisition of all outstanding shares of Massey's common stock. The acquisition is anticipated to conclude later today.