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Sector Update: Energy

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Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.1%.

The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 0.1% lower.

Front-month US West Texas Intermediate crude oil was 0.8% higher at $85.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $91.17 per barrel, and natural gas futures were up 0.7% at $2.71 per 1 million British Thermal Units.

Petroleo Brasileiro (PBR), also known as Petrobras, is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported, citing people familiar with the matter. Petrobras shares were 0.9% higher premarket.

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