ADRs in Focus: Emerging markets oil shares mixed

ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

Light, sweet crude for August delivery rose as high as $142.54 a barrel on the New York Mercantile Exchange before pulling back slightly to trade up $2.80 at $142.44.

Yet shares of emerging markets oil and gas companies were mixed during the session.

Shares of South Africa's Sasol Ltd. posted the biggest gain, rising $1.20, or 2.1 percent, to $58.68.

Shares of Argentina's Petrobras Energia Participaciones SA added 3 cents to $11.77, and shares of Petrobras increased 20 cents to $68.52.

Among the decliners, shares of PetroChina Co. fell $1.70 to $127.26, and shares of China Petroleum & Chemical Corp. declined $2.60, or 2.8 percent, to $91.84.

The Bank of New York Emerging Markets ADR Index--which includes shares of companies based in China, Mexico, Brazil and more--lost 0.66 points to 344.35. The Bank of New York Composite ADR Index slipped 0.48 points to 165.89 as the U.S. markets fell in afternoon trading.