09:26 AM EDT, 04/15/2024 (MT Newswires) -- Energy stocks were edging higher premarket Monday, with the Energy Select Sector SPDR Fund ( XLE ) up 0.4%.

The United States Oil Fund ( USO ) was 0.5% lower and the United States Natural Gas Fund ( UNG ) was down 2.9%.

Front-month US West Texas Intermediate crude oil was down 0.9% at $84.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil lost 0.9% to reach $89.60 per barrel, and natural gas futures were down 3.5% at $1.71 per 1 million British Thermal Units.

BP's (BP) electric vehicle charging business, BP Pulse, cut more than 100 jobs in recent months, or over 10% of its worldwide headcount of 900, Reuters reported, citing unnamed company sources. BP stock was up 0.3% in recent Monday premarket activity.

The arbitration case between Exxon Mobil ( XOM ) and Chevron ( CVX ) over a large oil project in Guyana is expected to drag out through the end of 2024, according to a Hess (HES) regulatory filing. Exxon Mobil ( XOM ) and Chevron ( CVX ) stocks were both up 0.6% in recent Monday premarket activity.