09:05 AM EDT, 05/23/2024 (MT Newswires) -- Energy stocks were advancing premarket Thursday with the Energy Select Sector SPDR Fund (XLE) up 0.3% recently.

The United States Oil Fund (USO) was 1.5% higher and the United States Natural Gas Fund (UNG) was up 2.5%.

Front-month US West Texas Intermediate crude oil was up 0.9% at $78.29 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to $82.62 per barrel, and natural gas futures were up 0.5% at $2.86 per 1 million British Thermal Units.

Borr Drilling ( BORR ) rose by over 10% after reporting that it swung to a Q1 income as revenue increased during the period.