Sector Update: Energy Stocks Decline Premarket Friday

MT Newswires Live11-15

Energy stocks were declining premarket Friday as the Energy Select Sector SPDR Fund (XLE) was 0.1% lower recently.

The United States Oil Fund (USO) and the United States Natural Gas Fund (UNG) were each 0.7% lower.

Front-month US West Texas Intermediate crude oil was 0.9% lower at $68.06 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.8% to $71.97 per barrel, and natural gas futures were down 1.3% at $2.75 per 1 million British Thermal Units.

Kodiak Gas Services (KGS) shares were down more than 1% after the company said an underwritten public offering of 5.7 million shares of its common stock by an affiliate of the EQT Infrastructure III and EQT Infrastructure IV funds was priced at $34.50 per share.

Sable Offshore (SOC) shares fell past 5% after the company reported a Q3 net loss of $255.6 million.

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