Sector Update: Energy

MT Newswires Live01-02

Energy stocks were lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) retreating marginally.

The United States Oil Fund (USO) was down 0.9%, while the United States Natural Gas Fund (UNG) was 1.8% lower.

Front-month US West Texas Intermediate crude oil was down 0.9% at $56.93 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.8% to $60.33 per barrel, and natural gas futures were 1.6% lower at $3.63 per 1 million British Thermal Units.

Sable Offshore (SOC) stock rose more than 19% after a federal court on Wednesday rejected an emergency motion by environmental groups to block the restart of the company's Santa Ynez Pipeline System.

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