Sector Update: Energy

MT Newswires Live06-24

Energy stocks were edging higher pre-bell Monday as the Energy Select Sector SPDR Fund (XLE) was up 0.6% recently.

The United States Oil Fund (USO) was up 0.1% and the United States Natural Gas Fund (UNG) was down 1.3%.

Front-month US West Texas Intermediate crude oil was up 0.02% at $80.75 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil advanced 0.1% to $84.41 per barrel. Natural gas futures were down 1.0% at $2.80 per 1 million British Thermal Units.

Eni (E) expects to complete the sale of a minority stake in its biofuel unit Enilive by the end of 2024, Reuters reported. Eni was down over 1% premarket.

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