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Sector Update: Energy Stocks Slightly Higher Pre-Bell Tuesday

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Energy stocks slightly rose pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally higher.

The United States Oil Fund (USO) was down 1.2% and the United States Natural Gas Fund (UNG) was 1.5% lower.

Front-month US West Texas Intermediate crude oil was 0.2% lower at $73.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.5% to $77.54 per barrel, and natural gas futures were down 1.3% at $3.21 per 1 million British Thermal Units.

Phillips 66 (PSX) has partnered with Kanin Energy on a 7-megawatt waste heat-to-power project at its Mewbourn natural gas processing complex in Platteville, Colorado, Kanin Energy said. Phillips 66 stock was 0.1% higher premarket.

Baker Hughes (BKR) has secured a lifecycle and digital services contract to support turbomachinery operations at ANOH Gas Processing's plant in Nigeria, the oilfield services firm said. Baker Hughes shares were down 0.4% pre-bell.

Dorian LPG (LPG) shares were marginally higher after the company said it has signed an agreement to build one Very Large Gas Carrier, or VLGC, and reached separate memoranda of understanding to sell three VLGCs.

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