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Sector Update: Energy

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Energy stocks were edging higher pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.

The United States Oil Fund (USO) was up 0.1% and the United States Natural Gas Fund (UNG) was 0.8% higher.

Front-month US West Texas Intermediate crude oil was 0.1% higher at $86.91 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $94.06 per barrel, and natural gas futures were up 1.3% at $2.77 per 1 million British Thermal Units.

TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said. Shares of TotalEnergies were 0.2% lower premarket.

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