Sector Update: Energy Stocks Advance Pre-Bell Monday
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Energy stocks are rising pre-bell Monday, with the State Street Energy Select Sector SPDR ETF up 0.7%. The United States Oil Fund increased by 2%, and natural gas futures rose by 2.6%. Chevron has entered a $120 million agreement with Frontera Energy, while BP and Reliance Industries face over $30 billion in compensation claims from the Indian government. Petrobras is required to maintain 80% staffing amid ongoing negotiations during a strike. BP and Petrobras shares were up 0.9% and 0.3%, respectively, premarket.
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