09:25 AM EDT, 07/31/2026 (MT Newswires) -- Energy stocks were edging higher premarket Friday, with the State Street Energy Select Sector SPDR ETF ( XLE ) advancing by 0.4%.

The United States Oil Fund ( USO ) was up 2.3% and the United States Natural Gas Fund ( UNG ) was 0.1% lower.

Front-month US West Texas Intermediate crude oil was 2.1% higher at $85.38 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.4% to $90.26 per barrel, and natural gas futures were down 0.1% at $2.76 per 1 million British Thermal Units.

Phillips 66 (PSX) shares were up more than 1% after the company said its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.

Exxon Mobil (XOM) stock was 0.8% lower after the company reported Q2 adjusted earnings below analysts' expectations.

Chevron ( CVX ) shares were up 0.5% after the company posted higher Q2 adjusted earnings and revenue.