09:29 AM EDT, 10/02/2024 (MT Newswires) -- Energy stocks were rising in Wednesday's premarket hours, with The Energy Select Sector SPDR Fund ( XLE ) up 1.5%.

The United States Oil Fund ( USO ) was up 2.2% and the United States Natural Gas Fund ( UNG ) was 2% higher.

Front-month US West Texas Intermediate crude oil was up 2.9% at $71.87 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.6% to $75.49 per barrel, and natural gas futures were up 2.9% at $2.98 per 1 million British Thermal Units.

SM Energy ( SM ) shares were up nearly 2% after the company said it has closed the acquisition of an 80% stake in XCL Resources' oil and gas assets in Utah's Uinta Basin for $2.10 billion.

Northern Oil and Gas ( NOG ) stock was 2% higher after the company said it has completed the acquisition of Uinta Basin assets from XCL Resources. The company paid $511.2 million for the assets that it acquired jointly with SM Energy ( SM ).

Crescent Energy ( CRGY ) shares advanced more than 8% as the company is set to join the S&P SmallCap 600 on Friday, replacing Perficient (PRFT).