Sector Update: Energy Stocks Lean Lower Premarket Friday
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Energy stocks are down premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) falling 0.8%. The United States Oil Fund (USO) decreased by 1.4%, and the United States Natural Gas Fund (UNG) dropped 1.5%. West Texas Intermediate crude oil is down 0.4% at $95.45 per barrel, while Brent crude oil rose 0.2% to $105.28. SLB shares fell over 1% after reporting lower Q1 earnings, and Eni's stock is down 0.2% following a profit decline. TotalEnergies secured financing for a project in Kazakhstan but saw marginal premarket losses.
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