09:01 AM EDT, 09/03/2024 (MT Newswires) -- Energy stocks were declining pre-bell Tuesday with the Energy Select Sector SPDR Fund (XLE) down 1.1% recently.

The United States Oil Fund (USO) was 2.3% lower and the United States Natural Gas Fund (UNG) was up 0.3%.

Front-month US West Texas Intermediate crude oil was down nearly 1% at $72.83 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.8% to $76.09 per barrel, and natural gas futures were up 0.4% at $2.13 per 1 million British Thermal Units.

Shell (SHEL) said its Shell International Trading Middle East unit signed a 10-year liquefied natural gas supply agreement with Turkey's Boru Hatlari ile Petrol Tasima, also known as BOTAS. Shell shares were almost 3% lower premarket.