09:01 AM EDT, 06/04/2025 (MT Newswires) -- Energy stocks were advancing premarket Wednesday with the Energy Select Sector SPDR Fund (XLE) slightly higher recently.

The United States Oil Fund (USO) was down 0.3% and the United States Natural Gas Fund (UNG) was 0.8% lower.

Front-month US West Texas Intermediate crude oil was down 0.5% at $63.06 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to $65.27 per barrel, and natural gas futures were 0.6% lower at $3.69 per 1 million British Thermal Units.

Kosmos Energy ( KOS ) , the government of Ghana, Tullow Oil, PetroSA, Ghana National Petroleum, and Explorco said they have entered into a memorandum of understanding to extend the West Cape Three Points and Deep Water Tano licenses in Ghana to 2040. Kosmos Energy ( KOS ) shares were up more than 1% pre-bell.