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Sector Update: Energy Stocks Mostly Lower Pre-Bell Friday

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Energy stocks were mostly lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) bucking the trend with a 0.2% gain.

The United States Oil Fund (USO) was down 1%, while the United States Natural Gas Fund (UNG) was 1.7% lower.

Front-month US West Texas Intermediate crude oil was down 1% at $82.73 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.5% to $89.30 per barrel, and natural gas futures were 2.5% lower at $2.84 per 1 million British Thermal Units.

BW LPG (BWLP) stock was down more than 4% after the company reported lower Q2 revenue.

BP (BP) shares were 0.8% lower after Reuters reported Thursday that the company is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt.

Petrobras (PBR) stock was up 0.9% following Thursday 2.8% rise when Bloomberg reported that the company is considering starting exports of liquefied natural gas to Asia, with demand strong since the loss of supply from Qatar in the midst of the US-Iran war.

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