09:27 AM EDT, 05/28/2024 (MT Newswires) -- Energy stocks were advancing premarket Tuesday as the Energy Select Sector SPDR Fund ( XLE ) was recently up 0.5%.

The United States Oil Fund ( USO ) was 1.8% higher and the United States Natural Gas Fund ( UNG ) was 0.4% lower.

Front-month US West Texas Intermediate crude oil was up 1.5% at $78.88 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.2% to $83.26 per barrel, and natural gas futures were up 0.2% at $2.53 per 1 million British Thermal Units.

Energy Transfer ( ET ) will acquire WTG Midstream Holdings in a deal valued at about $3.25 billion from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, according to a press release. Energy Transfer ( ET ) was up 0.3% pre-bell.

Golar LNG (GLNG) reported a Q1 net income of $55.2 million, swinging from a net loss of $101.9 million a year earlier. Golar LNG was up 0.1% pre-bell.