Energy stocks were edging higher premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.9%.

The United States Oil Fund (USO) was up 2.6% and the United States Natural Gas Fund (UNG) was 2.7% lower.

Front-month US West Texas Intermediate crude oil was up 2.7% at $58.07 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 2.8% to reach $62.10 per barrel, and natural gas futures were 0.2% lower at $3.98 per 1 million British Thermal Units.

Eni (E) shares were up more than 1% after the company said its Versalis chemical company and Prysmian have signed a collaboration to recycle plastic cable scrap.

Baytex Energy (BTE) stock was up more than 1% after the company said it is setting a 2026 capital budget of CA$550 million to CA$625 million ($399.6 million to $454.1 million) with a target to deliver annual production of 67,000 to 69,000 barrels of oil equivalent per day.