09:18 AM EDT, 03/20/2024 (MT Newswires) -- Energy stocks were declining premarket Wednesday as the Energy Select Sector SPDR Fund ( XLE ) was down 0.6% recently.

The United States Oil Fund ( USO ) was 1.6% lower and the United States Natural Gas Fund ( UNG ) was down 1.5%.

Front-month US West Texas Intermediate crude oil was down 1.7% at $82.05 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil lost 1.3% to $86.28 per barrel, and natural gas futures were 0.2% lower at $1.74 per 1 million British Thermal Units.

New Fortress Energy ( NFE ) was almost 2% higher after saying early tender results of its previously announced cash tender offer for its 6.750% senior secured notes due 2025 exceeded the aggregate maximum principal amount of $375 million.

Scorpio Tankers ( SBBA ) said it has signed agreements to sell 2013-built MR product tankers STI Larvotto and STI Le Rocher for about $36.2 million each. Scorpio Tankers ( SBBA ) was up 0.2% in recent premarket activity.