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Sector Update: Energy Stocks Higher Pre-Bell Wednesday

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Energy stocks were higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 2.2%.

The United States Oil Fund (USO) was up 6.4%, while the United States Natural Gas Fund (UNG) was 0.3% higher.

Front-month US West Texas Intermediate crude oil was up 6.7% to $84.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 7.1% to $90.05 per barrel, and natural gas futures were 0.5% lower at $2.65 per 1 million British Thermal Units.

Eni (E) stock was up more than 6% before market open after the company reported higher Q2 net profit and sales.

Cenovus Energy (CVE) gained more than 4% after the company reported higher Q2 earnings.

Woodside Energy Group (WDS) rose 3% after the company reported higher Q2 operating revenue.

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