09:20 AM EDT, 10/21/2024 (MT Newswires) -- Energy stocks were advancing pre-bell Monday as the Energy Select Sector SPDR Fund ( XLE ) rose by 0.7%.

The United States Oil Fund ( USO ) was up 1.4% and the United States Natural Gas Fund ( UNG ) was 0.5% higher.

Front-month US West Texas Intermediate crude oil was 1.7% higher at $70.40 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.5% to $74.12 per barrel, and natural gas futures were up 0.8% at $2.28 per 1 million British Thermal Units.

Petroleo Brasileiro (PBR), known as Petrobras, said it agreed to sell diesel with renewable content to Vale (VALE) to support emissions reduction and decarbonization. Petrobras shares were flat in recent premarket activity.

TotalEnergies (TTE) shares were up 0.4% after the company said it agreed to sell its fuel distribution business in Brazil to SIM Distribuidora.