09:09 AM EDT, 05/28/2024 (MT Newswires) -- Energy stocks were advancing premarket Tuesday as the Energy Select Sector SPDR Fund (XLE) was recently up 0.6%.

The United States Oil Fund (USO) was 1.7% higher, and the United States Natural Gas Fund (UNG) was inactive.

Front-month US West Texas Intermediate crude was up 1.9% at $79.20 per barrel at the New York Mercantile Exchange. Global benchmark Brent gained 0.5% to $83.55 per barrel, and natural-gas futures were up 0.2% at $2.53 per 1 million BTU.

Energy Transfer ( ET ) will acquire WTG Midstream Holdings in a deal valued at about $3.25 billion from affiliates of Stonepeak, the Davis Estate and Diamondback Energy. Energy Transfer ( ET ) was up 0.3% pre-bell.