Sector Update: Energy

MT Newswires Live11-24

Energy stocks were trading lower premarket Monday, with the Energy Select Sector SPDR Fund (XLE) down slightly.

The United States Oil Fund (USO) was up 0.3% and the United States Natural Gas Fund (UNG) was 2.2% lower.

Front-month US West Texas Intermediate crude oil was up 0.5% at $58.12 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.1% to $62.62 per barrel, and natural gas futures were 2.6% lower at $4.62 per 1 million British Thermal Units.

BP (BP) continued to search for the source of a leak on its Olympic Pipeline near Everett, Washington, on Sunday, nearly two weeks after the breach was detected, news outlets reported. BP shares were 0.7% lower pre-bell.

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