Sector Update: Energy

MT Newswires Live01-05

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 3.8% higher.

The United States Oil Fund (USO) was up 1% and the United States Natural Gas Fund (UNG) was 6.1% lower.

Front-month US West Texas Intermediate crude oil was up 1% at $57.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to $61.27 per barrel, and natural gas futures were 5.8% lower at $3.41 per 1 million British Thermal Units.

Shares of oil-related firms were up in recent premarket activity after the US attacked Venezuela, abducted its president, and announced that American companies would invest to restore crude production in the South American country. Chevron stock was up more than 6% pre-bell.

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