Sector Update: Energy

9:07AM ET 10/18/2021 MT Newswires
Energy stocks were gaining pre-bell Monday with the Energy Select Sector SPDR (XLE) recently advancing by 0.73%. The United States Oil Fund (USO) was up nearly 1% and the United States Natural Gas Fund (UNG) was more than 4% lower.

West Texas Intermediate crude oil was up $1.21 at $83.49 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude gained $0.80 to $85.66 per barrel and natural gas futures were 23 cents lower at $5.18 per 1 million BTU.

TotalEnergies (TTE) said it has opened a UK offshore wind hub in Aberdeen, Scotland, to facilitate the transition of its staff from oil and gas to offshore wind. TotalEnergies was advancing 0.5% in recent trading.