Sector Update: Energy Stocks Fall Pre-Bell Tuesday

MT Newswires Live02-04

Energy stocks were falling pre-bell Tuesday, with The Energy Select Sector SPDR Fund (XLE) down 0.4%.

The United States Oil Fund (USO) was down 2.8% and the United States Natural Gas Fund (UNG) was 4.9% lower.

Front-month US West Texas Intermediate crude oil was down 2.6% at $71.24 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.7% to reach $74.67 per barrel, and natural gas futures were 5.3% lower at $3.18 per 1 million British Thermal Units.

Marathon Petroleum (MPC) shares were up over 1% after the company reported lower Q4 adjusted net income and revenue that still surpassed analyst expectations.

Enterprise Products Partners (EPD) stock was down 0.7% after the company posted lower Q4 revenue.

WEC Energy Group (WEC) shares were gaining marginally after the company reported higher Q4 earnings and revenue.

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