Tiger Brokers

Sector Update: Energy Stocks Edge Higher Premarket Thursday

MT Newswires Live
May 08

Energy stocks were edging higher premarket Thursday, with The Energy Select Sector SPDR Fund (XLE) up 1%.

The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 0.6% higher.

Front-month US West Texas Intermediate crude oil was up 1.7% at $59.03 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.4% to reach $61.95 per barrel, and natural gas futures were 0.9% higher at $3.65 per 1 million British Thermal Units.

ConocoPhillips (COP) shares were up past 1% after the company reported an increase in Q1 adjusted earnings.

Canadian Natural Resources (CNQ) stock was up over 2% after the company posted higher Q1 adjusted earnings and revenue.

Cheniere Energy (LNG) shares were up more than 1% after the company reported higher revenue.

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