Sector Update: Energy Stocks Lean Lower Premarket Monday

MT Newswires Live11-25 22:22

Energy stocks were leaning lower premarket Monday with the Energy Select Sector SPDR Fund (XLE) recently down 0.2%.

The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 4.7% higher.

Front-month US West Texas Intermediate crude oil was 1.9% lower at $69.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.7% to $73.35 per barrel. Natural gas futures were up 5.3% at $3.461 per 1 million British Thermal Units.

EQT (EQT) shares advanced by over 3% after the company announced a definitive agreement with funds managed by Blackstone Credit & Insurance to form a new midstream joint venture valued at about $8.8 billion.

ONEOK (OKE) and EnLink Midstream (ENLC) said they have agreed to a $4.3 billion all-stock merger of the two energy companies. EnLink Midstream shares rose past 3% premarket.

TotalEnergies (TTE) shares were down 0.2% after the company said new investments in Adani group companies would be paused following a US indictment of certain Adani executives over alleged corruption.

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