09:18 AM EDT, 05/17/2024 (MT Newswires) -- Energy stocks were advancing pre-bell Friday with the Energy Select Sector SPDR Fund ( XLE ) recently up 0.2%.

The United States Oil Fund ( USO ) was 0.7% higher and the United States Natural Gas Fund ( UNG ) was up 2.6%.

Front-month US West Texas Intermediate crude oil was up 0.7% at $79.79 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil gained 0.5% to $83.69 per barrel, and natural gas futures were up 2.1% at $2.55 per 1 million British Thermal Units.

Hess (HES) shareholders have been advised by proxy advisory firm Glass Lewis to vote in favor of Chevron's ( CVX ) proposed $53 billion all-stock acquisition, multiple news outlets reported. Hess and Chevron ( CVX ) shares were up 0.2% and 0.1% premarket, respectively.

Tsakos Energy Navigation ( TNP ) shares were 0.3% higher after the company said it expanded its tanker fleet to six this year with the Poppy S super eco Suezmax vessel, which was delivered Tuesday.

ProFrac Holding ( ACDC ) said it appointed Austin Harbour as chief financial officer, succeeding Lance Turner, who will resign, effective June 17. ProFrac Holding ( ACDC ) shares were up 0.5% pre-bell.