09:05 AM EDT, 08/23/2024 (MT Newswires) -- Energy stocks were edging higher premarket Friday, with The Energy Select Sector SPDR Fund (XLE) advancing 0.7%.

The United States Oil Fund (USO) was 1.8% higher and the United States Natural Gas Fund (UNG) was down 1.1%.

Front-month US West Texas Intermediate crude oil was up 1.6% at $74.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.4% to reach $78.30 per barrel, and natural gas futures were down 1.7% at $2.02 per 1 million British Thermal Units.

SM Energy ( SM ) shares were up over 1% after the company said it expects to complete the acquisition of Uinta Basin oil and gas assets from XCL Resources on Oct. 1 after a 30-day review period under the Hart-Scott-Rodino antitrust act expired Wednesday.