Energy stocks were advancing early Wednesday with the Energy Select Sector SPDR Fund (XLE) 0.6% higher recently.

The United States Oil Fund (USO) was up 1.4% and the United States Natural Gas Fund (UNG) was 2.1% lower.

Front-month US West Texas Intermediate crude oil was 1.6% higher at $68.28 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.5% to $71.81 per barrel, and natural gas futures were down 2.1% at $2.80 per 1 million British Thermal Units.

Hess (HES) shares were up 1.1% after the company reported higher Q3 adjusted net income and revenue compared with a year earlier.

ONEOK (OKE) shares were 0.9% higher after the company reported higher Q3 earnings and revenue.

EQT (EQT) shares were up 1.7% after the company reported higher-than-expected Q3 adjusted earnings.