Sector Update: Energy Stocks Advance Premarket Wednesday

MT Newswires Live03-26

Energy stocks advanced premarket Wednesday with the Energy Select Sector SPDR Fund (XLE) 0.9% higher recently.

The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 0.6% higher.

Front-month US West Texas Intermediate crude oil was up 0.9% at $69.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to $73.03 per barrel. Natural gas futures were up 1.1% at $3.918 per 1 million British Thermal Units.

Chevron (CVX) has indicated interest in exploring hydrocarbon at two more offshore blocks off the Greek island of Crete, Greece's Minister of Environment and Energy Stavros Papastavrou said. Shares of Chevron were 0.9% higher pre-bell.

Phillips 66 (PSX) said it has nominated four candidates to stand for election to the board of directors ahead of the upcoming annual shareholders' meeting. Phillips 66 shares were down more than 1% premarket.

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