Energy stocks rose premarket Thursday as the Energy Select Sector SPDR Fund (XLE) recently advanced by 1.1%.
The United States Oil Fund (USO) was up 1.7% and the United States Natural Gas Fund (UNG) was 2.1% higher.
Front-month US West Texas Intermediate crude oil was 1.5% higher at $72.82 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1.5% to $75.72 per barrel, and natural gas futures were up 1.1% at $3.67 per 1 million British Thermal Units.
BP (BP) said gas has begun flowing from the first phase of the Greater Tortue Ahmeyim liquefied natural gas project offshore Mauritania and Senegal. Separately, Kosmos Energy (KOS) said it expects to start recognizing revenue from the project with the first LNG cargo in Q1. Kosmos Energy shares were up over 3% pre-bell.
Pembina Pipeline (PBA) shares advanced by over 1% after the company said its Pembina Gas Infrastructure unit had completed the acquisition of a 50% working interest in Whitecap Resources' 15-07 Kaybob Complex.
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