Sector Update: Energy Stocks Mixed Premarket Thursday

MT Newswires Live12-12

Energy stocks were mixed premarket Thursday with the Energy Select Sector SPDR Fund (XLE) recently up 0.1%.

The United States Oil Fund (USO) was down 0.6% and the United States Natural Gas Fund (UNG) was 1.2% higher.

Front-month US West Texas Intermediate crude oil was 0.1% lower at $70.22 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.1% to $73.46 per barrel, and natural gas futures were down 0.4% at $3.37 per 1 million British Thermal Units.

PHX Minerals (PHX) shares were more than 6% higher after the company said its board has launched a strategic review process to explore options for maximizing shareholder value, including a potential merger or sale.

Kodiak Gas Services (KGS) shares were down more than 1% after the company said an affiliate of the EQT Infrastructure III and EQT Infrastructure IV funds is conducting an underwritten public offering of 5.5 million of its shares.

Expro Group Holdings (XPRO) said it was collaborating with Petrobras (PBR) to develop a new non-intrusive flowmeter. Expro shares were 1.5% higher pre-bell.

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