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Sector Update: Energy Stocks Decline Pre-Bell Thursday

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

The United States Oil Fund (USO) was down 1.5% and the United States Natural Gas Fund (UNG) was 2.1% lower.

Front-month US West Texas Intermediate crude oil was 0.2% higher at $73.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.4% to $78.30 per barrel, and natural gas futures were down 0.7% at $3.19 per 1 million British Thermal Units.

Shell (SHEL) received valid tenders for about $6.3 billion of outstanding unregistered notes in its previously announced exchange offers, the oil giant said. Shares of Shell were 0.6% lower premarket.

TotalEnergies (TTE) stock was down 0.4% after the company said it sold its 170-megawatt distributed solar portfolio across seven European countries to Amarenco and AMPYR Distributed Energy.

BP (BP) will push decision-making closer to the "frontline" and seek greater financial accountability and discipline, said Meg O'Neill, the British energy giant's new CEO, on social media platform Linkedin. BP shares were down more than 1% pre-bell.

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$BKR$COP$CVX$OXY
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$LMND$SAR$TFC$XYZ
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$DPZ$EL$PSKY$TSLA$WBD