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Sector Update: Energy
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Sector Update: Energy
Feb 11, 2025 6:26 AM

09:10 AM EST, 02/11/2025 (MT Newswires) -- Energy stocks were rising premarket Tuesday, with The Energy Select Sector SPDR Fund (XLE) up 0.8%.

The United States Oil Fund (USO) was up 1.4% and the United States Natural Gas Fund (UNG) was 2% higher.

Front-month US West Texas Intermediate crude oil was up 1.8% at $73.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.8% to reach $77.25 per barrel, and natural gas futures were 2.2% higher at $3.52 per 1 million British Thermal Units.

Elliott Investment Management disclosed an investment of over $2.50 billion in Phillips 66 (PSX) and proposed the "Streamline66" plan to simplify the company's portfolio, review its operations, and elect new independent directors. Phillips 66 shares were over 6% higher pre-bell.

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