Sector Update: Energy

MT Newswires Live11-02 22:08

Energy stocks were falling premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.2%.

The United States Oil Fund (USO) was down 3.2% and the United States Natural Gas Fund (UNG) was 2.5% higher.

Front-month US West Texas Intermediate crude oil was 6% lower at $97.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 5.8% to $106.89 per barrel, and natural gas futures were up 2.2% at $2.96 per 1 million British Thermal Units.

Kosmos Energy (KOS) shares were down more than 9% after the company reported a swing to Q3 adjusted net income amid higher revenue, with both still missing analysts' expectations.

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