Financial Wire

Sector Update: Energy

-- Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 1% higher.

The United States Oil Fund (USO) was up 5.1% and the United States Natural Gas Fund (UNG) was 1.4% higher.

Front-month US West Texas Intermediate crude oil was 5.6% higher at $88.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 5.3% to $95.13 per barrel, and natural gas futures were up 1.6% at $2.72 per 1 million British Thermal Units.

Eni (E) shares were up more than 3% after the company said it has made a gas discovery in the Kutei Basin off the coast of Indonesia.

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Sector Update: Energy | Financial Wire