Sector Update: Energy Stocks Edge Higher Pre-Bell Tuesday
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Energy stocks showed a slight increase pre-bell on Tuesday, with the State Street Energy Select Sector SPDR ETF rising by 0.3%. The United States Oil Fund gained 1%, while the United States Natural Gas Fund fell by 2.9%. Crude oil prices increased, with West Texas Intermediate at $61.39 per barrel and Brent crude at $65.47. ProPetro Holding's stock dropped over 5% after a share offering. Exxon Mobil is expanding its partnership with BYD, and Shell, Eni, and partners face up to $4 billion in compensation after losing an arbitration case in Kazakhstan.
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