Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.8% higher.

The United States Oil Fund (USO) was up 2.9% and the United States Natural Gas Fund (UNG) was 0.1% lower.

Front-month US West Texas Intermediate crude oil was 3.3% higher at $86.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.1% to $90.84 per barrel, and natural gas futures were down 1.1% at $2.86 per 1 million British Thermal Units.

Apollo Global Management (APO) said funds it manages have agreed to sell cooling systems firm Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming approximately $700 million of debt, the companies said. Shares of SLB were up more than 1% pre-bell.