09:06 AM EDT, 05/21/2024 (MT Newswires) -- Energy stocks were declining pre-bell Tuesday as the Energy Select Sector SPDR Fund (XLE) was down 0.4% recently.

The United States Oil Fund (USO) was 1.2% lower and the United States Natural Gas Fund (UNG) was down 1.8%.

Front-month US West Texas Intermediate crude oil was down 1.7% at $78.44 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.6% to $82.37 per barrel, and natural gas futures were down 1.4% at $2.71 per 1 million British Thermal Units.

Shell (SHEL) shareholders voted in favor of the company's new energy transition plan that includes weaker carbon-emissions targets while simultaneously rejecting a resolution filed by a group of investors seeking higher standards, according to media reports. Shell was 0.4% lower premarket.