09:25 AM EDT, 09/24/2024 (MT Newswires) -- Energy stocks were advancing pre-bell Tuesday as the Energy Select Sector SPDR Fund ( XLE ) rose by 1.2% recently.

The United States Oil Fund ( USO ) was up 2.3% and the United States Natural Gas Fund ( UNG ) was 0.8% lower.

Front-month US West Texas Intermediate crude oil was up 2.6% at $72.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 2.4% to $74.93 per barrel. Natural gas futures were down 0.3% at $2.845 per 1 million British Thermal Units.

The US Federal Trade Commission is set to approve Chevron's ( CVX ) $53 billion acquisition of Hess (HES) as early as this week, Reuters reported, citing two unnamed sources familiar with the matter. Shares of Chevron ( CVX ) were up more than 1% and Hess were up 2% premarket.

Diamondback Energy ( FANG ) and Kinetik ( KNTK ) together acquired a 30% equity stake in Epic Midstream affiliate Epic Crude, according to a joint statement. Diamondback Energy ( FANG ) shares were nearly 2% higher pre-bell.

Northern Oil & Gas (NOG) said it has completed the acquisition of Delaware Basin assets from Point Energy Partners. Northern Oil & Gas shares were up 0.8% higher premarket.