08:36 AM EDT, 08/07/2024 (MT Newswires) -- Energy stocks were advancing premarket Wednesday with the Energy Select Sector SPDR Fund (XLE) 1.5% higher recently.

The United States Oil Fund (USO) was 2.6% higher and the United States Natural Gas Fund (UNG) was up 4%.

Front-month US West Texas Intermediate crude oil was up 2.3% at $74.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.1% to $78.11 per barrel, and natural gas futures were up 4% at $2.09 per 1 million British Thermal Units.

Permian Resources ( PR ) shares rose 3.5% after the company reported higher results for Q2.