09:25 AM EDT, 07/22/2026 (MT Newswires) -- Energy stocks were rising premarket Wednesday, with the State Street Energy Select Sector SPDR ETF ( XLE ) advancing by 1%.

The United States Oil Fund ( USO ) was up 2.3% and the United States Natural Gas Fund ( UNG ) was 0.6% higher.

Front-month US West Texas Intermediate crude oil was 3.4% higher at $87.22 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.7% to $94.33 per barrel, and natural gas futures were up 1.4% at $2.91 per 1 million British Thermal Units.

Equinor ( EQNR ) stock was up more than 5% after the company posted higher Q2 adjusted earnings and revenue.

Eni (E) shares were up more than 1% after the company said it generated first industrial electricity from the 120-megawatt gas power plant at the 247-MW Mangystau Hybrid Power Plant in Kazakhstan.

Magnolia Oil & Gas ( MGY ) and its subsidiaries and affiliates plan to offer a total of $500 million in senior unsecured debt notes due 2034 in a private placement, the company said. Magnolia Oil & Gas ( MGY ) stock was 0.3% lower premarket.