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Sector Update: Energy Stocks Fall Premarket Tuesday

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Energy stocks were falling premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 1.4%.

The United States Oil Fund (USO) was down 3.3% and the United States Natural Gas Fund (UNG) was 2.2% lower.

Front-month US West Texas Intermediate crude oil was 3.3% lower at $82.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 3.2% to reach $89.19 per barrel, and natural gas futures were down 2.8% at $2.70 per 1 million British Thermal Units.

Equinor (EQNR) plans to boost production outside Norway to 950,000 barrels of oil equivalent per day by 2030, while generating $20 billion of free cash flow from 2026 to 2030, the company's Executive Vice President Philippe Mathieu said. Shares of Equinor were down more than 1% pre-bell.

Woodside Energy (WDS) stock was down more than 2% even after the company posted higher H1 earnings and revenue.

Halliburton (HAL) won a contract from BP (BP) to support appraisal work at the Bumerangue field offshore Brazil, the company said. Halliburton shares were down more than 1% premarket.

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