Energy stocks edged higher premarket Tuesday as the Energy Select Sector SPDR Fund (XLE) was slightly lower recently.
The United States Oil Fund (USO) was up 0.3% and the United States Natural Gas Fund (UNG) was 2.7% lower.
Front-month US West Texas Intermediate crude oil was up 0.3% at $71.66 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil slightly advanced to $74.88 per barrel, and natural gas futures were 2.2% lower at $4.03 per 1 million British Thermal Units.
Chevron (CVX) shares were 0.1% lower after its Chevron U.S.A. unit said it closed the sale of a 70% interest in its East Texas gas assets to an affiliate of TG Natural Resources for $525 million, with $75 million paid in cash and $450 million as a capital carry to fund Haynesville development.
Ring Energy (REI) shares were down 0.8% after the company said it completed the acquisition of the Central Basin Platform assets of Lime Rock Resources.
Excelerate Energy (EE) shares fell past 5% after the company priced an upsized underwritten public offering of $184.3 million of class A shares at $26.50 apiece.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.