Sector Update: Energy

MT Newswires Live
Aug 14

Energy stocks were edging higher pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.4%.

The United States Oil Fund (USO) was down 0.3% and the United States Natural Gas Fund (UNG) was 1.3% higher.

Front-month US West Texas Intermediate crude oil was inactive at $81.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.1% to $86.99 per barrel, and natural gas futures were up 1.2% at $2.76 per 1 million British Thermal Units.

Diversified Energy (DEC) is in preliminary talks to acquire Birch Resources, which operates in the Permian Basin, Reuters reported, citing a Diversified Energy statement. Shares of Diversified Energy were up more than 2% premarket.

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