Sector Update: Energy

MT Newswires Live12-11

Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.8%.

The United States Oil Fund (USO) was down 2.6% and the United States Natural Gas Fund (UNG) was 4.2% lower.

Front-month US West Texas Intermediate crude oil was down 1.8% at $57.38 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.7% to $61.13 per barrel, and natural gas futures were 3.8% lower at $4.42 per 1 million British Thermal Units.

BP (BP) said it delivered first oil from the Atlantis Drill Center 1 expansion project in the US Gulf of Mexico, two months ahead of schedule. BP shares were 0.5% lower pre-bell.

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