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Sector Update: Energy Stocks Lean Lower Premarket Thursday

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Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.1%.

The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 1.1% lower.

Front-month US West Texas Intermediate crude oil was 0.6% lower at $83.96 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.9% to $89.96 per barrel, and natural gas futures were down 1.1% at $2.69 per 1 million British Thermal Units.

Shell (SHEL) shares were up more than 1% after the company reported higher Q2 adjusted earnings and revenue.

Cactus (WHD) stock was up nearly 6% after the company posted higher Q2 adjusted earnings and revenue.

Valero Energy (VLO) stock was down more than 2% even after the company posted higher Q2 adjusted earnings and revenue.

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