Sector Update: Energy

MT Newswires Live04-13 21:04

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.

The United States Oil Fund (USO) was up 7% and the United States Natural Gas Fund (UNG) was 1.9% higher.

Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.9% to $101.85 per barrel, and natural gas futures were up 1.9% at $2.70 per 1 million British Thermal Units.

BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.9% pre-bell.

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