Sector Update: Energy

MT Newswires Live06-01 21:13

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.8% higher.

The United States Oil Fund (USO) was up 1.7% and the United States Natural Gas Fund (UNG) was 2.6% lower.

Front-month US West Texas Intermediate crude oil was 4.5% higher at $91.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.6% to $94.31 per barrel, and natural gas futures were down 3% at $3.19 per 1 million British Thermal Units.

Equinor (EQNR) said it recommended that its corporate assembly elect Jarle Roth as new chair of the board. Shares of Equinor were up more than 2% pre-bell.

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