Sector Update: Energy

MT Newswires Live11-17

Energy stocks were advancing pre-bell Monday, with the Energy Select Sector SPDR Fund (XLE) 0.2% higher.

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

Front-month US West Texas Intermediate crude oil was up 0.4% at $60.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.4% to $64.63 per barrel, and natural gas futures were 3% lower at $4.43 per 1 million British Thermal Units.

Sable Offshore (SOC) shares were up nearly 4%, after closing Friday with a decline of more than 28%. The company, on Friday, disputed what it said were certain inaccuracies in a report by investment firm Hunterbrook regarding its accounts payable, ownership and bonding requirements with ExxonMobil (XOM).

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