08:59 AM EDT, 10/31/2024 (MT Newswires) -- Energy stocks were advancing premarket Thursday, with The Energy Select Sector SPDR Fund (XLE) 0.4% higher.

The United States Oil Fund (USO) was up 0.5% and the United States Natural Gas Fund (UNG) was 0.9% lower.

Front-month US West Texas Intermediate crude oil was 0.9% higher at $69.23 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.8% to reach $73.12 per barrel, and natural gas futures were down 1.6% at $2.80 per 1 million British Thermal Units.

ConocoPhillips ( COP ) shares were up over 3% after the company reported lower Q3 adjusted earnings and revenue that still topped analysts' expectations. The company also raised its quarterly dividend and share buyback program authorization.