09:10 AM EDT, 07/02/2025 (MT Newswires) -- Energy stocks were advancing pre-bell Wednesday as the Energy Select Sector SPDR Fund (XLE) was 0.9% higher recently.

The United States Oil Fund (USO) was up 0.6% and the United States Natural Gas Fund (UNG) was 1.2% higher.

Front-month US West Texas Intermediate crude oil was up 1% at $66.10 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to $67.74 per barrel, and natural gas futures were 1.1% higher at $3.45 per 1 million British Thermal Units.

Borr Drilling ( BORR ) shares were up more than 3% after the company said it has secured new contract commitments for four of its premium jack-up rigs, with a total estimated contract revenue of more than $129 million.