09:05 AM EDT, 03/25/2024 (MT Newswires) -- Energy stocks were edging higher premarket Monday, with the Energy Select Sector SPDR Fund (XLE) recently up 0.2%.

The United States Oil Fund (USO) was 0.1% higher and the United States Natural Gas Fund (UNG) was down 1.9%.

Front-month US West Texas Intermediate crude oil was up 0.4% at $80.92 per barrel at the New York Mercantile Exchange. Global benchmark Brent crude oil gained 0.4% to $85.74 per barrel, and natural-gas futures were 2.2% lower at $1.62 per 1 million BTU.

China's Cnooc has filed an arbitration claim against Hess (HES), following Exxon Mobil ( XOM ) to try to establish a right over the company's stake in the Stabroek oilfield in Guyana, Reuters reported Friday. Hess was 0.7% higher pre-bell.