Sector Update: Energy

MT Newswires Live21:06

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.3% lower.

The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 1.3% higher.

Front-month US West Texas Intermediate crude oil was 1.4% lower at $74.80 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.3% to $78.72 per barrel, and natural gas futures were up 0.8% at $3.26 per 1 million British Thermal Units.

Chevron (CVX) has signed a 20-year agreement with Microsoft (MSFT) to supply natural gas-fired power for a planned West Texas data center campus, Bloomberg reported. Chevron shares were up more than 1% pre-bell.

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