NEW YORK (

TheStreet

) -- Oil futures were taking a break on Friday morning and paring gains after a soaring rally found the price topping $78 earlier in the session.

Front-month crude on the New York Mercantile Exchange was sliding in the morning, down 55 cents at $77.03 per barrel. Just before, a report was released showing consumer confidence went lower in September. On Thursday, the November delivery contract surged $2.40 to settle at $77.58 following new weekly government inventory figures.

According to the Energy Department, gasoline stockpiles edged lower by a more-than-expected 5.2 million barrels last week, while oil inventories grew by a smaller-than-forecast 400,000 barrels.

This morning, oil servicer

Halliburton

(HAL) - Get Report

reported a

61% drop in its third-quarter earnings, though its top and bottom-lines still beat Wall Street estimates. After the opening bell, Halliburton shares were rising 92 cents at $30.77.

Other servicers weren't fairing as well in the early going, as

Baker Hughes

(BHI)

,

National-Oilwell Varco

(NOV) - Get Report

and

BJ Services

(BJS)

were slipping 2.4%, 1.4% and 2.4%, respectively.

Among the oil majors, shares of

Exxon Mobil

(XOM) - Get Report

were sliding 30 cents at $72.64, while

Chevron

(CVX) - Get Report

shares were off by 32 cents at $76.37.

ConocoPhillips

(COP) - Get Report

shares, though, were bidding higher, up 44 cents at $52.21.

--Written by Sung Moss in New York

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