09:24 AM EDT, 03/28/2024 (MT Newswires) -- Energy stocks were advancing premarket Thursday with the Energy Select Sector SPDR Fund ( XLE ) 0.6% higher and the NYSE Energy Sector Index up nearly 1%.

The United States Oil Fund ( USO ) was 1% higher and the United States Natural Gas Fund ( UNG ) was up 1.8%.

Front-month US West Texas Intermediate crude oil was up 1.5% at $82.54 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil gained 1.5% to $87.41 per barrel, and natural gas futures were up 2% at $1.75 per 1 million British Thermal Units.

Schlumberger ( SLB ) was up 0.5% after saying it signed a deal to combine its carbon capture business with Aker Carbon Capture, or ACC, with SLB to own 80% of the combined entity and Aker Carbon Capture to hold the remaining 20%.

Phillips 66 (PSX) Chief Executive Mark Lashier said activist investor Elliott Investment Management has accepted management's plans to improve the company's financial performance, Reuters reported Tuesday. Phillips 66 was 0.5% higher pre-bell.