Sector Update: Energy

MT Newswires Live05-19

Energy stocks were advancing premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% higher.

The United States Oil Fund (USO) was up 1.2% and the United States Natural Gas Fund (UNG) was 0.8% higher.

Front-month US West Texas Intermediate crude oil was 0.5% lower at $108.09 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.6% to $110.32 per barrel, and natural gas futures were up 1.2% at $3.06 per 1 million British Thermal Units.

Equinor (EQNR) shares were up more than 2% after the company said it signed a 5-year agreement with Dutch energy provider Eneco to supply natural gas from the Norwegian continental shelf.

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