09:18 AM EDT, 08/29/2025 (MT Newswires) -- Energy stocks were edging higher premarket Friday, with the Energy Select Sector SPDR Fund ( XLE ) advancing by 0.1%.

The United States Oil Fund ( USO ) was 0.1% higher and the United States Natural Gas Fund ( UNG ) was up 0.2%.

Front-month US West Texas Intermediate crude oil was 0.1% lower at $64.53 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.4% to $68.34 per barrel, and natural gas futures were up 0.5% at $2.96 per 1 million British Thermal Units.

Phillips 66 (PSX) will begin winding down operations at its Los Angeles-area refinery in September as part of a planned permanent closure, Reuters reported, citing people familiar with the matter. Phillips 66 shares were down 0.2% pre-bell.

Frontline ( FRO ) shares were down 0.6% after the company reported lower Q2 adjusted earnings and revenue.

Cenovus Energy's ( CVE ) proposed acquisition of MEG Energy is facing opposition from Canadian oil and gas producer Strathcona Resources, which said it intends to acquire an additional 5% of the company and oppose the Cenovus bid. Cenovus Energy ( CVE ) shares were 0.2% higher premarket.