Sector Update: Energy Stocks Advance Premarket Tuesday

MT Newswires Live2024-11-26

Energy stocks were advancing premarket Tuesday, with The Energy Select Sector SPDR Fund (XLE) 0.2% higher.

The United States Oil Fund (USO) was up 0.4% and the United States Natural Gas Fund (UNG) was 1.8% higher.

Front-month US West Texas Intermediate crude oil was 0.6% higher at $69.36 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.6% to reach $73.41 per barrel, and natural gas futures were up 1.3% at $3.41 per 1 million British Thermal Units.

New Fortress Energy (NFE) said it has completed the first step in its issuance of $2.7 billion worth of new senior secured notes due 2029. New Fortress Energy shares were 0.2% lower pre-bell.

Clearway Energy (CWEN) shares were up 0.4% after the company said it agreed to acquire the Tuolumne wind project from Turlock Irrigation District.

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