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Sector Update: Energy Stocks Lean Lower Premarket Wednesday

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Energy stocks were leaning lower premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.7%.

The United States Oil Fund (USO) was down 2.8% and the United States Natural Gas Fund (UNG) was 1.9% lower.

Front-month US West Texas Intermediate crude oil was 0.8% lower at $107.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.3% to $108.68 per barrel, and natural gas futures were down 2.1% at $3.05 per 1 million British Thermal Units.

Golar LNG (GLNG) stock was up more than 3% after the company posted higher Q1 net income and operating revenue.

Dorian LPG (LPG) shares were up more than 4% after the company reported higher fiscal Q4 adjusted earnings and revenue.

Shell (SHEL) unit BG International has sold participating interests in three exploration blocks offshore Uruguay to QatarEnergy. Shell shares were 0.4% lower pre-bell.

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