Sector Update: Energy

MT Newswires Live12-04 22:11

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

The United States Oil Fund (USO) was up 0.4% and the United States Natural Gas Fund (UNG) was 1.5% lower.

Front-month US West Texas Intermediate crude oil was up 0.8% at $59.44 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.5% to $62.99 per barrel, and natural gas futures were 1.3% lower at $4.93 per 1 million British Thermal Units.

Chevron (CVX) stock was 0.2% higher after the company said it has earmarked $18 billion to $19 billion for consolidated subsidiaries' organic capital expenditures in 2026, while affiliate capital expenditure is expected at $1.3 billion to $1.7 billion.

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