09:24 AM EST, 02/18/2025 (MT Newswires) -- Energy stocks edged higher premarket Tuesday with the Energy Select Sector SPDR Fund ( XLE ) recently advancing by 0.3%.

The United States Oil Fund ( USO ) was up 1.2% and the United States Natural Gas Fund ( UNG ) was 0.6% lower.

Front-month US West Texas Intermediate crude oil was up 0.6% at $71.16 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.1% to $75.16 per barrel, and natural gas futures were 0.3% lower at $3.71 per 1 million British Thermal Units.

Diamondback Energy ( FANG ) shares were 1% higher after the company announced a definitive purchase agreement to acquire certain Double Eagle IV Midco subsidiaries in exchange for about 6.9 million Diamondback common shares and $3 billion cash.

ConocoPhillips ( COP ) shares were up 0.7% after the company said late Friday that Canadian regulators have exempted it from continuous disclosure and other reporting obligations rules that publicly traded companies are required to.