Energy stocks were rising premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1%.

The United States Oil Fund (USO) was up 1.1% and the United States Natural Gas Fund (UNG) was 0.5% lower.

Front-month US West Texas Intermediate crude oil was 1.6% higher at $93.60 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.9% to $105.07 per barrel, and natural gas futures were down 0.8% at $3 per 1 million British Thermal Units.

SLB (SLB) stock was up more than 1% after the company said it won four integrated well construction contracts from Aramco to support oil and gas development in Saudi Arabia.

Delek US (DK) plans to raise $400 million through a private offering of convertible senior notes due 2031, the company said. Shares of Delek US were down more than 5% premarket.

Petroleo Brasileiro (PBR), or Petrobras, awaits an official nod to develop an offshore Colombia gas field, as part of its 2027 to 2031 production slate, Reuters reported. Petrobras shares were 0.1% higher pre-bell.