09:04 AM EDT, 08/05/2024 (MT Newswires) -- Energy stocks were declining premarket Monday with the Energy Select Sector SPDR Fund (XLE) down 2.2% recently.

The United States Oil Fund (USO) was 2.3% lower and the United States Natural Gas Fund (UNG) was down 2.7%.

Front-month US West Texas Intermediate crude oil was down 1.7% at $72.26 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $75.70 per barrel, and natural gas futures were down 3.8% at $1.89 per 1 million British Thermal Units.

Occidental Petroleum ( OXY ) shares fell past 4% after it filed a registration statement Friday covering the potential resale of up to 29.6 million common shares of the company by a stockholder from time to time.