09:27 AM EST, 12/29/2025 (MT Newswires) -- Energy stocks were advancing pre-bell Monday, with the State Street Energy Select Sector SPDR ETF ( XLE ) up 0.7%.

The United States Oil Fund ( USO ) was up 2% and The United States Natural Gas Fund ( UNG ) was 1.6% higher.

Front-month US West Texas Intermediate crude oil was up 2.5% at $58.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.4% to $61.95 per barrel, and natural gas futures were 2.6% higher at $4.48 per 1 million British Thermal Units.

Chevron ( CVX ) has entered into a $120 million prepayment and commercial agreement with Frontera Energy's Colombian subsidiary, Frontera said. Chevron ( CVX ) shares were 0.5% higher premarket.

BP (BP) and Reliance Industries are being demanded by the Indian government to pay over $30 billion as compensation in an arbitration case for allegedly mismanaging two offshore fields leading to the loss of gas reserves, Reuters reported, citing three people with knowledge of the matter. BP stock was up 0.9% pre-bell.

Petrobras (PBR) must maintain staffing levels of at least 80% across all its facilities in Brazil as negotiations with workers continue amid a prolonged strike, Reuters reported, citing the country's Superior Labor Court. Petrobras shares were 0.3% higher premarket.