Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.2%.

The United States Oil Fund (USO) was up 2.5% and the United States Natural Gas Fund (UNG) was 2.8% lower.

Front-month US West Texas Intermediate crude oil was 2% higher at $94.22 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.7% to $106.13 per barrel, and natural gas futures were down 4% at $3.07 per 1 million British Thermal Units.

TotalEnergies (TTE) stock was 0.9% higher after the company said it projects 4% in energy production growth per year until 2030.