Energy stocks were edging higher premarket Friday, with the Energy Select Sector SPDR Fund (XLE) advancing by 0.1%.

The United States Oil Fund (USO) was 0.1% higher and the United States Natural Gas Fund (UNG) was up 0.2%.

Front-month US West Texas Intermediate crude oil was 0.1% lower at $64.53 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.4% to $68.34 per barrel, and natural gas futures were up 0.5% at $2.96 per 1 million British Thermal Units.

Phillips 66 (PSX) will begin winding down operations at its Los Angeles-area refinery in September as part of a planned permanent closure, Reuters reported, citing people familiar with the matter. Phillips 66 shares were down 0.2% pre-bell.

Frontline (FRO) shares were down 0.6% after the company reported lower Q2 adjusted earnings and revenue.

Cenovus Energy's (CVE) proposed acquisition of MEG Energy is facing opposition from Canadian oil and gas producer Strathcona Resources, which said it intends to acquire an additional 5% of the company and oppose the Cenovus bid. Cenovus Energy shares were 0.2% higher premarket.