Sector Update: Energy Stocks Rise Premarket Monday

MT Newswires Live

Nov 18, 2024

Energy stocks rose in Monday's premarket hours with the Energy Select Sector SPDR Fund (XLE) 0.6% higher recently.

The United States Oil Fund (USO) was up 1.8% and the United States Natural Gas Fund (UNG) was 0.2% higher.

Front-month US West Texas Intermediate crude oil was 0.8% higher at $67.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1% to $71.73 per barrel, and natural gas futures were up 0.7% at $2.84 per 1 million British Thermal Units.

Liberty Energy (LBRT) shares rose past 3% after the company said it plans to appoint William Kimble as non-executive board chairman and Ron Gusek as chief executive officer, should Liberty's founder Chris Wright become the US energy secretary.

Prairie Operating (PROP) shares were up more than 2% after the company said it has signed multiple midstream and gathering agreements with Rimrock Energy Partners, NGL Energy Partners, and Taproot Energy Partners in the Denver-Julesburg basin.

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