Energy stocks were advancing premarket Friday, with The Energy Select Sector SPDR Fund (XLE) 0.1% higher.

The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 0.1% higher.

Front-month US West Texas Intermediate crude oil was up 0.1% at $70.01 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.1% to reach $74.09 per barrel, and natural gas futures were slightly higher at $3.93 per 1 million British Thermal Units.

Infinity Natural Resources (INR) shares were down more than 17% after the company overnight reported that it swung to Q4 net loss as revenue fell during the period.

Woodside Energy (WDS) said it agreed with oil and gas company Perenco to divest its Greater Angostura assets in Trinidad and Tobago for $206 million. Woodside Energy stock was 0.1% lower premarket.

Elliott Investment Management has taken a short position in Shell (SHEL), amounting to 0.5% of Shell, a Financial Conduct Authority filing showed. Shell's shares were 0.3% lower pre-bell.