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Sector Update: Energy Stocks Edge Higher Premarket Monday
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Energy stocks edged higher premarket Monday, with XLE up 0.2%. USO fell 0.7%, while UNG rose 2%. WTI crude oil increased 0.8% to $58.99/barrel, Brent crude gained 0.8% to $62.86/barrel, and natural gas futures rose 1% to $4.84/MMBtu. Shell and Equinor merged UK operations. Shell shares rose 0.6%. Kodiak Gas Services fell over 1% due to a share offering. Targa Resources agreed to acquire Stakeholder Midstream for $1.25 billion, boosting shares by 0.9%.
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