Energy stocks were rising premarket Monday, with The Energy Select Sector SPDR Fund (XLE) up 3.6%.

The United States Oil Fund (USO) was up 3.7% and the United States Natural Gas Fund (UNG) was 3.2% lower.

Front-month US West Texas Intermediate crude oil was up 3.6% at $63.23 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.4% to $66.11 per barrel, and natural gas futures were 3.2% lower at $3.67 per 1 million British Thermal Units.

NRG Energy (NRG) shares were up over 13% after the company reported higher Q1 adjusted earnings and revenue. Separately, NRG Energy said it has agreed to acquire CPower and a portfolio of natural gas generation facilities from LS Power Equity Advisors.

Seadrill (SDRL) stock was 0.4% lower after the company reported that it swung to a Q1 net loss as revenue declined during the period.

Southwest Gas Holdings (SWX) shares were down 0.4% after the company posted higher Q1 adjusted earnings as revenue fell during the quarter.