Sector Update: Energy

MT Newswires Live06-25 20:56

Energy stocks were mostly lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) losing 0.6%.

The United States Oil Fund (USO) was down 0.5%, while the United States Natural Gas Fund (UNG) was 2.4% higher.

Front-month US West Texas Intermediate crude oil was down 0.9% to $69.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 1% to $73.02 per barrel, and natural gas futures were 2.1% higher at $3.29 per 1 million British Thermal Units.

TotalEnergies (TTE) stock was down more than 1% before market open after closing the previous session with a 4% fall. The company said Wednesday it acquired a 10% stake in the Bab Gas Cap Concession in Abu Dhabi, joining an international consortium to develop the major onshore gas field.

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