Sector Update: Energy

MT Newswires Live10-19 21:05

Energy stocks were falling premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1%.

The United States Oil Fund (USO) was down 1.1% and the United States Natural Gas Fund (UNG) was 0.6% higher.

Front-month US West Texas Intermediate crude oil was 0.5% lower at $100.91 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.3% to $108.46 per barrel, and natural gas futures were up 1% at $3.15 per 1 million British Thermal Units.

Chord Energy (CHRD) said it has appointed Michael Lou as chief executive officer and president, effective immediately. Chord Energy shares were down more than 3% pre-bell.

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