09:08 AM EDT, 06/28/2024 (MT Newswires) -- Energy stocks were rising premarket Friday, with the Energy Select Sector SPDR Fund ( XLE ) recently gaining 0.7%.

The United States Oil Fund ( USO ) was 0.3% higher, and the United States Natural Gas Fund ( UNG ) advanced 1.1%.

Front-month US West Texas Intermediate crude oil was up 0.3% at $81.99 per barrel at the New York Mercantile Exchange. Global benchmark Brent rose 0.3% to $86.65 per barrel, and natural-gas futures were up 1.3% at $2.72 per 1 million BTU.

Shares of Tamboran Resources ( TBN ) , whose initial public offering to raise about $75 million is expected to close Friday, rose 0.1% in recent premarket activity.

Ocean Power Technologies ( OPTT ) shares rose 31% after the company said it signed an original equipment manufacturer agreement with Teledyne Technologies' (TDY) Teledyne Marine unit.