08:31 AM EDT, 05/30/2024 (MT Newswires) -- Energy stocks were falling premarket Thursday, with the Energy Select Sector SPDR Fund (XLE) declining 0.1%.

The United States Oil Fund (USO) was 0.2% lower, and the United States Natural Gas Fund (UNG) retreated 1.1%.

Front-month US West Texas Intermediate crude oil was down 0.4% at $78.92 per barrel at the New York Mercantile Exchange. Global benchmark Brent declined 0.5% to $83.19 per barrel, and natural gas futures were down 0.8% at $2.65 per 1 million BTU.

BW LPG ( BWLP ) shares were up 10% after the company reported higher Q1 earnings and shipping and product services revenue.