Sector Update: Energy

MT Newswires Live05-22 21:03

Energy stocks were advancing premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.1%.

The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.8% lower.

Front-month US West Texas Intermediate crude oil was 0.3% higher at $96.65 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.1% to $103.66 per barrel, and natural gas futures were down 1.2% at $2.98 per 1 million British Thermal Units.

TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported Friday, citing unnamed people familiar with the matter. TotalEnergies shares were down more than 1% pre-bell.

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