09:26 AM EDT, 03/09/2026 (MT Newswires) -- Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF ( XLE ) advancing by 1%.

The United States Oil Fund ( USO ) was nearly 10% higher and the United States Natural Gas Fund ( UNG ) was up 3.5%.

Front-month US West Texas Intermediate crude oil was up 9.8% at $99.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 10.2% to $102.10 per barrel, and natural gas futures were 3% higher at $3.29 per 1 million British Thermal Units.

Shares of major oil companies were higher pre-bell as crude prices surged past $100 per barrel. Stock of Exxon Mobil ( XOM ) was 0.7% higher and ConocoPhillips ( COP ) shares were up more than 1%.

Borr Drilling ( BORR ) shares were down more than 3% after the company said it has shut down operations on four drilling rigs in the Arabian Gulf amid the ongoing hostilities in the region.

VAALCO Energy ( EGY ) stock was up more than 2% after the company said it has completed drilling the Etame West ET-14P exploration well, as part of its phase 3 drilling program offshore Gabon.