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Sector Update: Energy Stocks Lean Lower Premarket Friday

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-- Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.

The United States Oil Fund (USO) was down 1.2% and The United States Natural Gas Fund (UNG) was 1.8% higher.

Front-month US West Texas Intermediate crude oil was 0.1% higher at $94.90 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.4% to $100.45 per barrel, and natural gas futures were up 1.1% at $2.80 per 1 million British Thermal Units.

Enbridge (ENB) shares were up 0.4% after the company posted Q1 adjusted earnings and revenue that exceeded analysts' estimates.

Devon Energy (DVN) stock was up more than 1% after the company launched a new share repurchase authorization of $8 billion and raised its fixed dividend to $0.320 per share, payable June 30 to shareholders of record as of June 15.

Plains GP (PAGP) shares were down more than 2% after the company reported a decline in Q1 net income.

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