Sector Update: Energy

MT Newswires Live10-14 21:11

Energy stocks were edging higher pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.7%.

The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 2.5% lower.

Front-month US West Texas Intermediate crude oil was 1.5% higher at $95.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $105.79 per barrel, and natural gas futures were down 1.2% at $3.25 per 1 million British Thermal Units.

National Fuel Gas (NFG) plans to spin off its Integrated Upstream and Gathering business into an independent, publicly traded company in a tax-free transaction expected to close in H2 2027, the company said. Shares of National Fuel Gas were up more than 1% premarket.

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