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Sector Update: Energy

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Energy stocks were declining pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.

The United States Oil Fund (USO) was down 2.6% and the United States Natural Gas Fund (UNG) was 1.7% higher.

Front-month US West Texas Intermediate crude oil was 3.2% lower at $89.21 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.4% to $97.29 per barrel, and natural gas futures were up 1.3% at $2.95 per 1 million British Thermal Units.

SLB (SLB) shares were up more than 3% after the company reported Q2 adjusted earnings and revenue that topped analysts' estimates.

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