Energy stocks were edging higher premarket Tuesday with the Energy Select Sector SPDR Fund (XLE) advancing by 0.4% recently.
The United States Oil Fund (USO) was up 1.6% and the United States Natural Gas Fund (UNG) was 3.4% lower.
Front-month US West Texas Intermediate crude oil was up 1.2% at $74.08 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.1% to $77.94 per barrel, and natural gas futures were down 4.4% at $3.53 per 1 million British Thermal Units.
CNX Resources (CNX) shares were up 0.6% after the company closed the $505 million cash acquisition of the natural gas upstream and associated midstream business in the Appalachian Basin of Apex Energy II.
Chevron's (CVX) Chevron USA and investment firm Engine No. 1 said a new company will be formed that aims to power US-based data centers running on US natural gas. Chevron shares were up 0.3% premarket.
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