Sector Update: Energy Stocks Decline Premarket Friday

MT Newswires Live
Sep 05

Energy stocks were declining premarket Friday, with the Energy Select Sector SPDR Fund (XLE) down 0.8%.

The United States Oil Fund (USO) was 2.1% lower and the United States Natural Gas Fund (UNG) was up 1%.

Front-month US West Texas Intermediate crude oil was 1.9% lower at $62.27 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.8% to $66.79 per barrel, and natural gas futures were up 0.4% at $3.09 per 1 million British Thermal Units.

Shell (SHEL) is considering a sale of its 16.67% stake in the North West Shelf liquified natural gas export plant in Australia that could be worth over $3 billion, Bloomberg reported, citing people familiar with the matter. Shell shares were slightly higher premarket.

Fluence Energy (FLNC) shares were up more than 2% after the company said it has delivered domestic content lithium-ion battery storage systems called Gridstack Pro.

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