09:24 AM EST, 01/28/2025 (MT Newswires) -- Energy stocks were edging higher premarket Tuesday with the Energy Select Sector SPDR Fund ( XLE ) advancing by 0.4% recently.

The United States Oil Fund ( USO ) was up 1.6% and the United States Natural Gas Fund ( UNG ) was 3.4% lower.

Front-month US West Texas Intermediate crude oil was up 1.2% at $74.08 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.1% to $77.94 per barrel, and natural gas futures were down 4.4% at $3.53 per 1 million British Thermal Units.

CNX Resources ( CNX ) shares were up 0.6% after the company closed the $505 million cash acquisition of the natural gas upstream and associated midstream business in the Appalachian Basin of Apex Energy II.

Chevron's ( CVX ) Chevron USA and investment firm Engine No. 1 said a new company will be formed that aims to power US-based data centers running on US natural gas. Chevron ( CVX ) shares were up 0.3% premarket.