Sector Update: Energy Stocks Edge Higher Pre-Bell Thursday
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Energy stocks showed slight gains pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing. However, the United States Oil Fund (USO) fell 0.7%, and the United States Natural Gas Fund (UNG) dropped 0.9%. Crude oil prices decreased, with West Texas Intermediate at $100.62 per barrel and Brent crude at $105.02. Kodiak Gas Services (KGS) shares fell over 4% after pricing a public offering at $71 per share. Chevron (CVX) agreed to sell its downstream businesses in several countries to ENEOS for $2.17 billion, with CVX stock down 0.3%.
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