Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) falling 0.7%.

The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 0.9% lower.

Front-month US West Texas Intermediate crude oil was 2.4% lower at $81.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.1% to $87.13 per barrel, and natural gas futures were down 1.2% at $2.77 per 1 million British Thermal Units.

Golar LNG (GLNG) shares were up more than 7% after the company reported higher Q2 net income and total operating revenue.