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Sector Update: Energy Stocks Fall Premarket Wednesday

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Energy stocks were falling premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.

The United States Oil Fund (USO) was down 1.8% and the United States Natural Gas Fund (UNG) was 0.8% lower.

Front-month US West Texas Intermediate crude oil was 0.5% lower at $69.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.1% to $72.18 per barrel, and natural gas futures were down 0.8% at $3.25 per 1 million British Thermal Units.

Sable Offshore (SOC) shares were up more than 23% after the company said it has priced a combined equity and debt offering to raise new capital and refinance existing borrowings tied to its energy assets.

Eni (E) said it agreed with Mercuria to establish an equally owned joint venture to oversee energy commodities trading activities across global markets. Eni stock was down more than 2% pre-bell.

Ecopetrol (EC) has received around 1 trillion Colombian pesos ($292.7 million) by Colombia''s Ministry of Finance and Public Credit, corresponding to the account receivable from the Fuel Price Stabilization Fund for Q2 2025, the company said. Ecopetrol shares were 0.6% lower premarket.

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