09:10 AM EDT, 10/08/2025 (MT Newswires) -- Energy stocks were edging higher premarket Wednesday, with the Energy Select Sector SPDR Fund (XLE) advancing by 0.2%.

The United States Oil Fund (USO) was 0.5% higher and the United States Natural Gas Fund (UNG) was down 1.9%.

Front-month US West Texas Intermediate crude oil was 1.5% higher at $62.66 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.3% to $66.30 per barrel, and natural gas futures were down 0.9% at $3.47 per 1 million British Thermal Units.

Exxon Mobil ( XOM ) is considering re-entering Iraq after a two-year break through a heads-of-agreement with Basra Oil Co. and SOMO for the Majnoon oil field, multiple news outlets reported, citing Iraqi officials and another source familiar with the matter. Shares of Exxon Mobil ( XOM ) were 0.2% higher pre-bell.