09:21 AM EDT, 07/16/2025 (MT Newswires) -- Energy stocks were edging higher pre-bell Wednesday as the Energy Select Sector SPDR Fund ( XLE ) was advancing by 0.1% recently.

The United States Oil Fund ( USO ) was 1.1% lower and the United States Natural Gas Fund ( UNG ) was up 2%.

Front-month US West Texas Intermediate crude oil was 1% lower at $65.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.8% to $68.17 per barrel, and natural gas futures were 1.2% higher at $3.57 per 1 million British Thermal Units.

Eni (E) agreed to buy 2 million metric tons per year of liquefied natural gas from Venture Global's ( VG ) CP2 LNG project for 20 years, the companies said. Shares of Venture Global ( VG ) were up more than 2% premarket.

Obsidian Energy ( OBE ) shares were up more than 4% after the company said it has received a non-binding offer from a third party to acquire its 32.7% stake in InPlay Oil.