-- Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) retreating by 1.7%.
The United States Oil Fund (USO) was down 4.9%, while the United States Natural Gas Fund (UNG) was 0.8% lower.
Front-month US West Texas Intermediate crude oil was down 4.1% to $91.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 3.7% to $97.56 per barrel, and natural gas futures were 1% lower at $2.70 per 1 million British Thermal Units.
Shell (SHEL) shares fell 2.3% in early activity after the company reported lower-than-expected Q1 revenue.