08:23 AM EDT, 04/04/2024 (MT Newswires) -- Energy stocks were dropping premarket Thursday with the Energy Select Sector SPDR Fund (XLE) recently falling 0.1%.

The United States Oil Fund (USO) was 0.3% lower and the United States Natural Gas Fund (UNG) slipped 0.3%.

Front-month US West Texas Intermediate crude oil was marginally down at $85.26 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil was marginally up to $89.24 per barrel, and natural gas futures were flat at $1.84 per 1 million British Thermal Units.

Riley Exploration Permian ( REPX ) fell 17% after the company said it has priced a public offering of 2.1 million shares of its common stock at $27.00 per share.