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Sector Update: Energy Stocks Decline Pre-Bell Tuesday

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Energy stocks were declining pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 1.3%.

The United States Oil Fund (USO) was down 3.1% and the United States Natural Gas Fund (UNG) was 3% lower.

Front-month US West Texas Intermediate crude oil was 3.5% lower at $77.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.8% to $81.39 per barrel, and natural gas futures were down 3.1% at $2.69 per 1 million British Thermal Units.

Energy Transfer (ET) shares were up more than 1% after the company posted higher Q2 earnings and revenue.

Marathon Petroleum (MPC) stock was down more than 1% even after the company reported higher Q2 adjusted earnings and revenue.

BP (BP) reported higher Q2 underlying replacement cost profit as sales and other operating revenue increased during the period. BP shares were down 0.6% pre-bell.

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