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Sector Update: Energy

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Energy stocks were declining pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 1.1%.

The United States Oil Fund (USO) was down 2.9% and the United States Natural Gas Fund (UNG) was 2.7% lower.

Front-month US West Texas Intermediate crude oil was 3.2% lower at $77.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.5% to $81.57 per barrel, and natural gas futures were down 3% at $2.87 per 1 million British Thermal Units.

Energy Transfer (ET) shares were up nearly 2% after the company posted higher Q2 earnings and revenue.

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