09:02 AM EDT, 05/15/2024 (MT Newswires) -- Energy stocks were leaning lower pre-bell Wednesday as the Energy Select Sector SPDR Fund (XLE) was marginally declining recently.

The United States Oil Fund (USO) was 0.5% lower and the United States Natural Gas Fund (UNG) was up 1.7%.

Front-month US West Texas Intermediate crude oil was down 0.2% at $77.87 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil lost 0.2% to $82.23 per barrel, and natural gas futures were up 1.6% at $2.38 per 1 million British Thermal Units.

Petrobras (PBR) fell nearly 8% after saying Jean Paul Prattes has offered to step down as its chief executive and as a board member. Several news outlets reported that Brazilian President Luiz Inacio Lula da Silva had fired Prattes from the state-owned oil company due to a dispute over dividend payments.