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Sector Update: Energy Stocks Advance Premarket Tuesday
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Sector Update: Energy Stocks Advance Premarket Tuesday
Aug 6, 2024 6:49 AM

09:22 AM EDT, 08/06/2024 (MT Newswires) -- Energy stocks were advancing premarket, Tuesday with the Energy Select Sector SPDR Fund ( XLE ) 0.4% higher recently.

The United States Oil Fund ( USO ) was 1.7% lower, and the United States Natural Gas Fund ( UNG ) was up 2.2%.

Front-month US West Texas Intermediate crude oil was down 0.5% at $72.55 per barrel at the New York Mercantile Exchange. Global benchmark Brent lost 0.5% to $75.90 per barrel, and natural-gas futures were up 2.9% at $2 per 1 million British Thermal Units.

Marathon Petroleum ( MPC ) shares were up more than 3% after it reported a Q2 revenue of $38.36 billion, compared with $36.82 billion a year earlier.

MPLX ( MPLX ) shares advanced more than 2% after it reported higher Q2 earnings and revenue.

Constellation Energy ( CEG ) shares were up nearly 3% after it reported higher Q2 adjusted earnings and revenue. The company also raised its 2024 adjusted earnings guidance.

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