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Sector Update: Energy Stocks Edge Higher Premarket Wednesday

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Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.

The United States Oil Fund (USO) and United States Natural Gas Fund (UNG) were 0.3% higher.

Front-month US West Texas Intermediate crude oil was 0.1% higher at $75.83 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $80.04 per barrel, and natural gas futures were down 0.3% at $2.67 per 1 million British Thermal Units.

Phillips 66 (PSX) shares were up 1% after the company posted an increase in Q2 adjusted earnings.

Talos Energy (TALO) stock was more than 4% higher after the company overnight swung to Q2 non-GAAP net income as revenue increased during the period.

Dorian LPG (LPG) shares were up more than 3% after the company reported higher fiscal Q1 adjusted earnings and revenue.

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