Energy stocks edged higher premarket Tuesday with the Energy Select Sector SPDR Fund (XLE) recently advancing by 0.4%.
The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 0.5% lower.
Front-month US West Texas Intermediate crude oil was up 0.4% at $71.01 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.3% to $75.00 per barrel. Natural gas futures were 1% lower at $3.688 per 1 million British Thermal Units.
Diamondback Energy (FANG) shares were almost 1% higher after the company announced a definitive purchase agreement to acquire certain Double Eagle IV Midco subsidiaries in exchange for about 6.9 million Diamondback common shares and $3 billion cash.
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