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Sector Update: Energy Stocks Edge Higher Pre-Bell Thursday

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Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally advancing.

The United States Oil Fund (USO) was down 0.7% and The United States Natural Gas Fund (UNG) was 0.9% lower.

Front-month US West Texas Intermediate crude oil was 0.4% lower at $100.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to reach $105.02 per barrel, and natural gas futures were down 1.4% at $2.82 per 1 million British Thermal Units.

Kodiak Gas Services (KGS) shares were down more than 4% after the company priced an underwritten public offering of 10.6 million shares at $71 apiece.

Chevron (CVX) agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to ENEOS for $2.17 billion, ENEOS said. Chevron stock was 0.3% lower pre-bell.

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