Sector Update: Energy Stocks Steady Premarket Monday

Energy stocks were steady premarket Monday with the Energy Select Sector SPDR Fund XLE flat recently.

The United States Oil Fund USO was 1.4% higher and the United States Natural Gas Fund UNG was up 17%.

Front-month US West Texas Intermediate crude oil was up 0.5% at $70.98 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil added 0.3% to $74.40 per barrel, and natural gas futures were up 17% at $3.95 per 1 million British Thermal Units.

Nano Nuclear Energy NNE reported a fiscal 2024 net loss Monday of $0.39 per share, widening from a loss of $0.28 a year earlier. The company's shares lost 4.7%.

Baker Hughes BKR said Monday it has received an order from Bechtel Energy to supply gas technology equipment for two liquefaction plants for phase one of Woodside Energy Group's WDS Louisiana LNG project. Baker Hughes shares were down 0.7% and Woodside Energy Group shares were up 0.2%.

Snow Lake Resources LITM, which does business as Snow Lake Energy, said Sunday it has priced a public offering of about 18.8 million shares at $0.80 per share. The company's shares slumped 38% pre-bell Monday.