Energy stocks edged higher premarket Friday with the Energy Select Sector SPDR Fund (XLE) recently advancing by 1.3%.
The United States Oil Fund (USO) was slightly up and the United States Natural Gas Fund (UNG) was 3% higher.
Front-month US West Texas Intermediate crude oil was down 0.3% at $59.08 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.3% to $61.97 per barrel, and natural gas futures were 0.9% higher at $3.51 per 1 million British Thermal Units.
Exxon Mobil (XOM) shares were up more than 1% after the company reported higher Q1 revenue.
Shell (SHEL) shares were up over 3% after the company reported Q1 adjusted earnings that topped estimates. The company also said it has started a $3.5 billion share buyback program.
Chevron (CVX) was up 0.5% after the company reported Q1 adjusted earnings above expectations.
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