09:19 AM EDT, 06/02/2025 (MT Newswires) -- Energy stocks were advancing premarket Monday with the Energy Select Sector SPDR Fund ( XLE ) recently up 1.8%.

The United States Oil Fund ( USO ) was up 4.9% and the United States Natural Gas Fund ( UNG ) was 7.8% higher.

Front-month US West Texas Intermediate crude oil was up 4.6% at $63.58 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 4.1% to $65.33 per barrel, and natural gas futures were 7.1% higher at $3.69 per 1 million British Thermal Units.

Hess Midstream ( HESM ) said Global Infrastructure Partners, part of BlackRock (BLK), has fully sold its stake in the company through a public offering completed last week. Shares of Hess Midstream ( HESM ) were up 0.5% premarket.

Exxon Mobil ( XOM ) and BP (BP) signed deals Monday with Azerbaijan's state energy company SOCAR, Reuters reported, citing an event at a conference in Baku. Shares of BP and Exxon Mobil ( XOM ) were more than 1% higher pre-bell.