Sector Update: Energy

MT Newswires Live

Oct 13

Energy stocks were edging higher premarket Monday, with The Energy Select Sector SPDR Fund (XLE) advancing by 0.9%.

The United States Oil Fund (USO) was up 1.1% and the United States Natural Gas Fund (UNG) was 2% lower.

Front-month US West Texas Intermediate crude oil was 1% higher at $59.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to reach $63.30 per barrel, and natural gas futures were down 2% at $3.05 per 1 million British Thermal Units.

Bloom Energy (BE) shares were up more than 25% in recent Monday premarket activity after the company announced a $5 billion infrastructure partnership with Brookfield Asset Management (BAM) to meet the power and computing demands of artificial intelligence.

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