Energy stocks were advancing pre-bell Tuesday as the Energy Select Sector SPDR Fund (XLE) rose by 1.2% recently.
The United States Oil Fund (USO) was up 2.3% and the United States Natural Gas Fund (UNG) was 0.8% lower.
Front-month US West Texas Intermediate crude oil was up 2.6% at $72.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 2.4% to $74.93 per barrel. Natural gas futures were down 0.3% at $2.845 per 1 million British Thermal Units.
The US Federal Trade Commission is set to approve Chevron's (CVX) $53 billion acquisition of Hess (HES) as early as this week, Reuters reported, citing two unnamed sources familiar with the matter. Shares of Chevron were up more than 1% and Hess were up 2% premarket.
Diamondback Energy (FANG) and Kinetik (KNTK) together acquired a 30% equity stake in Epic Midstream affiliate Epic Crude, according to a joint statement. Diamondback Energy shares were nearly 2% higher pre-bell.
Northern Oil & Gas (NOG) said it has completed the acquisition of Delaware Basin assets from Point Energy Partners. Northern Oil & Gas shares were up 0.8% higher premarket.
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