Sector Update: Energy

MT Newswires Live07-02 21:07

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.5%.

The United States Oil Fund (USO) was down 0.5% and the United States Natural Gas Fund (UNG) was 1.2% lower.

Front-month US West Texas Intermediate crude oil was 1.6% lower at $67.48 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.5% to $70.52 per barrel, and natural gas futures were down 1.5% at $3.17 per 1 million British Thermal Units.

Tsakos Energy Navigation (TEN) placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029. Tsakos Energy Navigation stock was up more than 4% premarket.

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