09:16 AM EDT, 09/20/2024 (MT Newswires) -- Energy stocks were declining premarket Friday with the Energy Select Sector SPDR Fund (XLE) 0.2% lower recently.

The United States Oil Fund (USO) was down 0.4% and the United States Natural Gas Fund (UNG) was 1.4% higher.

Front-month US West Texas Intermediate crude oil was down 0.4% at $71.67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.6% to $74.4 per barrel, and natural gas futures were up 1.1% at $2.37 per 1 million British Thermal Units.

Sable Offshore ( SOC ) shares were down almost 12% after the company said it signed subscription agreements to issue 7.5 million shares of its common stock in a private placement to institutional investors for gross proceeds of around $150 million.