09:10 AM EDT, 09/26/2024 (MT Newswires) -- Energy stocks were falling premarket Thursday, with The Energy Select Sector SPDR Fund (XLE) 1.6% lower.

The United States Oil Fund (USO) was down 3.3% and the United States Natural Gas Fund (UNG) was 0.5% higher.

Front-month US West Texas Intermediate crude oil was down 2.4% at $67.99 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.7% to reach $71.76 per barrel, and natural gas futures were up 0.1% at $2.64 per 1 million British Thermal Units.

Shell (SHEL) was selected as the preferred bidder at Trinidad and Tobago for a shallow water block, Reuters reported, citing three unnamed people close to the process. Shell stock was down more than 4% pre-bell.