09:02 AM EDT, 04/08/2025 (MT Newswires) -- Energy stocks were advancing pre-bell Tuesday, with The Energy Select Sector SPDR Fund (XLE) up 2.6%.

The United States Oil Fund (USO) was up 0.3% and the United States Natural Gas Fund (UNG) was 2.3% higher.

Front-month US West Texas Intermediate crude oil was up 0.9% at $61.22 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose by 0.7% to $64.67 per barrel, and natural gas futures were 2.6% higher at $3.75 per 1 million British Thermal Units.

Phillips 66 (PSX) asked its shareholders to reject activist investor Elliott Investment Management's attempt to change the leadership and strategy of the company, according to a definite proxy statement. The company's shares were up nearly 3% premarket.