08:59 AM EDT, 10/02/2024 (MT Newswires) -- Energy stocks rose in Wednesday's premarket hours with the Energy Select Sector SPDR Fund (XLE) up 1.6% recently.

The United States Oil Fund (USO) was up 2% and the United States Natural Gas Fund (UNG) was 2.4% higher.

Front-month US West Texas Intermediate crude oil was up 2.7% at $71.74 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 2.5% to $75.43 per barrel, and natural gas futures were up 3.4% at $2.99 per 1 million British Thermal Units.

SM Energy ( SM ) shares were up over 1% after the company said it has closed the acquisition of an 80% stake in XCL Resources' oil and gas assets in Utah's Uinta Basin for $2.1 billion.