Sector Update: Energy

MT Newswires Live01-29

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 2%.

The United States Oil Fund (USO) was 3.3% higher and the United States Natural Gas Fund (UNG) was up 2.1%.

Front-month US West Texas Intermediate crude oil was up 3.4% at $65.33 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 3.2% to $70.60 per barrel, and natural gas futures were 3.1% higher at $3.85 per 1 million British Thermal Units.

TotalEnergies (TTE) is set to restart its liquefied natural gas project in Mozambique after a delay of almost five years, according to a translated statement from the office of Mozambique's President Daniel Chapo. Shares of TotalEnergies were up more than 2% premarket.

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