Energy stocks advanced premarket Monday with the Energy Select Sector SPDR Fund (XLE) 0.3% higher recently.

The United States Oil Fund (USO) was up 0.1% and the United States Natural Gas Fund (UNG) was 1.8% higher.

Front-month US West Texas Intermediate crude oil was up 0.7% at $70.24 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.7% to $73.32 per barrel. Natural gas futures were 2.5% higher at $3.929 per 1 million British Thermal Units.

Shell (SHEL) is considering selling its chemical assets in Europe and the US, The Wall Street Journal reported, citing people familiar with the matter. Shell shares were over 1% higher pre-bell.

VAALCO Energy (EGY) shares were 2% higher after the company said it acquired a 70% interest in and the operatorship of the CI-705 oil exploration block located in offshore Cote D'Ivoire for a $3 million investment.

Genesis Energy (GEL) shares advanced by over 7% after the company said it has completed the sale of its soda ash manufacturing and operations to an indirect affiliate of WE Soda for an implied enterprise value of $1.43 billion.