09:08 AM EDT, 10/11/2024 (MT Newswires) -- Energy stocks were declining premarket Friday as the Energy Select Sector SPDR Fund (XLE) was 0.2% lower recently.

The United States Oil Fund (USO) was down about 1% and the United States Natural Gas Fund (UNG) was 0.5% higher.

Front-month US West Texas Intermediate crude oil was 0.8% lower at $75.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.8% to $78.77 per barrel, and natural gas futures were up 1.6% at $2.72 per 1 million British Thermal Units.

BP (BP) shares fell by 0.7% after the company said it expects Q3 net debt to rise as a result of lower refining margins and the "rephasing" of about $1 billion of divestment proceeds into Q4.