Sector Update: Energy Stocks Edge Higher Pre-Bell Wednesday

MT Newswires Live

Sep 23

Energy stocks were edging higher pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.7%.

The United States Oil Fund (USO) was up 1.5% and the United States Natural Gas Fund (UNG) was 0.6% higher.

Front-month US West Texas Intermediate crude oil was 0.8% higher at $91.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.3% to $100.57 per barrel, and natural gas futures were up 2.1% at $3.03 per 1 million British Thermal Units.

TotalEnergies (TTE) said it will develop the Ima gas field offshore Nigeria in partnership with AMNI. Shares of TotalEnergies were 0.2% higher premarket.

SLB (SLB) shares were up 0.9% after the company said it has won a contract from state-owned OQ Exploration & Production to expand the Bisat-B production facility in Oman.

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