09:12 AM EDT, 07/16/2024 (MT Newswires) -- Energy stocks were declining premarket Tuesday, with The Energy Select Sector SPDR Fund (XLE) down 0.5%.

The United States Oil Fund (USO) was 1.9% lower and the United States Natural Gas Fund (UNG) was up 1.5%.

Front-month US West Texas Intermediate crude oil was down 1.9% at $80.39 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.7% to reach $83.43 per barrel and natural gas futures were up 1.5% at $2.19 per 1 million British Thermal Units.

Trio Petroleum's ( TPET ) stock was more than 1% lower after the company said it is offering about 35.5 million shares in a public offering on a best-effort basis.