Energy stocks were edging higher premarket Friday with the Energy Select Sector SPDR Fund (XLE) recently up 0.3%.

The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.9% lower.

Front-month US West Texas Intermediate crude oil was 1.3% higher at $71.12 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.3% to $75.32 per barrel, and natural gas futures were down 0.9% at $2.50 per 1 million British Thermal Units.

NOV (NOV) shares were over 2% higher after the company reported Q3 earnings of $0.33 per diluted share, up from $0.29 a year earlier.

Eni (E) shares were up over 1% after the company said it increased its 2024 share buyback authorization to 2 billion euros ($2.17 billion), up from the previous 1.6 billion euros.