08:56 AM EDT, 08/12/2024 (MT Newswires) -- Energy stocks were advancing premarket Monday as the Energy Select Sector SPDR Fund (XLE) was 0.6% higher recently.

The United States Oil Fund (USO) was 1.1% higher and the United States Natural Gas Fund (UNG) was up 3.1%.

Front-month US West Texas Intermediate crude oil was up 1.3% at $77.87 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.1% to $80.53 per barrel, and natural gas futures were up 3.3% at $2.21 per 1 million British Thermal Units.

Borr Drilling ( BORR ) shares advanced by almost 4% after saying its Borr IHC unit has priced an offering of additional 10% senior secured notes due 2028 for gross proceeds of about $150 million.