Sector Update: Energy

MT newswire2026/09/01 13:07

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09:07 AM EDT, 09/01/2026 (MT Newswires) -- Energy stocks were advancing premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.4% higher. The United States Oil Fund (USO) was up 2.6% and the United States Natural Gas Fund (UNG) was 2.3% lower. Front-month US West Texas Intermediate crude oil was 2.7% higher at $88.04 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.3% to $92.56 per barrel, and natural gas futures were down 2.2% at $2.87 per 1 million British Thermal Units. ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late, citing comments made by US President Donald Trump at a press event. ExxonMobil stock was up more than 1% pre-bell.

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41