Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.

The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 0.8% lower.

Front-month US West Texas Intermediate crude oil was 0.6% lower at $89.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.3% to $94.36 per barrel, and natural gas futures were up 1.1% at $2.94 per 1 million British Thermal Units.

BP (BP) appointed Ian Tyler as board chair, effective immediately. Shares of BP were down more than 1% pre-bell.