Financial Wire

Sector Update: Energy Stocks Lower Pre-Bell Friday

-- Energy stocks were mostly lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining 4%.

The United States Oil Fund (USO) was down 9.4%, while the United States Natural Gas Fund (UNG) was 1.4% higher.

Front-month US West Texas Intermediate crude oil was down 11% to $84.67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 9.6% to $09.10 per barrel, and natural gas futures were 0.3% higher at $2.64 per 1 million British Thermal Units.

An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg News reported Friday.

Shell shares fell 4.7% premarket, while Exxon stock was down more than 4% before the opening bell.

TotalEnergies stock fell 4.2%, and Eni was down 5.7%.

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