<div id="readability-page-1">09:27 AM EDT, 05/07/2026 (MT Newswires) -- Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF ( XLE ) retreating by 1.6%.The United States Oil Fund ( USO ) was down 3.5%, while The United States Natural Gas Fund ( UNG ) was 0.6% lower.Front-month US West Texas Intermediate crude oil was down 4.1% at $91.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 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 were down nearly 2% in early activity after the company reported lower-than-expected Q1 revenue.Tenaris ( TS ) shares were 4% lower in premarket activity after the company said its Q2 sales will be affected by lower shipments in the Middle East. Tenaris ( TS ) also named Gabriel Podskubka its chief executive officer.MGE Energy ( MGEE ) stock was down 4.4% before the opening bell after the company said late Wednesday it has launched an underwritten public offering of $250 million common shares, including about $75 million of shares to be sold directly by the company and roughly $175 million to be sold through forward sale agreements. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

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Energy stocks declined premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) down 1.6%. The United States Oil Fund (USO) fell 3.5%, and natural gas futures dropped 1%. Crude oil prices also decreased, with WTI at $91.20 per barrel and Brent at $97.56. Shell shares fell nearly 2% after reporting lower Q1 revenue, while Tenaris shares dropped 4% due to anticipated lower Q2 sales. MGE Energy stock was down 4.4% following a $250 million public offering announcement.

Sector Update: Energy Stocks Decline Pre-Bell Thursday