09:07 AM EDT, 05/08/2025 (MT Newswires) -- Energy stocks edged higher premarket Thursday as the Energy Select Sector SPDR Fund (XLE) advanced by 0.8% recently.

The United States Oil Fund (USO) was up 1.5% and the United States Natural Gas Fund (UNG) was 1.8% higher.

Front-month US West Texas Intermediate crude oil was up 1.3% at $58.84 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.1% to $61.78 per barrel, and natural gas futures were 1.2% higher at $3.66 per 1 million British Thermal Units.

ConocoPhillips ( COP ) shares rose past 1% after the company reported an increase in Q1 adjusted earnings.