US natural gas stocks increased by 92 billion cubic feet in the week ended May 22, smaller than the 95 billion increase expected in a survey compiled by Bloomberg and following an increase of 101 billion cubic feet in the previous week.
Stocks at 2.483 trillion cubic feet are 0.9% higher than in the comparable week a year ago and 6.2% above their 5-year average.
Negotiators for the US and Iran have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program, but President Donald Trump has not yet given final approval, Axios reported Thursday, citing two US officials.The White House didn't immediately reply to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Energy stocks were advancing premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.9% higher.The United States Oil Fund (USO) was up 1.7% and The United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 2.1% higher at $90.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.6% to $95.84 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. Shares of TotalEnergies were up 2% pre-bell.Baker Hughes (BKR) has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Equinor stock was up more than 1% premarket.Borr Drilling (BORR) stock was up more than 4% after the company priced an upsized $2.04 billion senior secured notes offering and simultaneously expanded a tender offer for its outstanding 10.375% senior secured notes due 2030.