08:59 AM EST, 11/22/2024 (MT Newswires) -- Energy stocks were leaning lower pre-bell Friday as the Energy Select Sector SPDR Fund (XLE) declined by 0.1% recently.

The United States Oil Fund (USO) was down 0.6% and the United States Natural Gas Fund (UNG) was 4.7% lower.

Front-month US West Texas Intermediate crude oil was 0.4% lower at $69.81 per barrel on the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.4% to $73.09 per barrel, and natural gas futures were down 4.7% at $3.18 per 1 million British Thermal Units.

Equinor ( EQNR ) is reducing its renewable energy unit's staff by 20%, the equivalent of nearly 250 full-time jobs, a spokesperson said. Equinor ( EQNR ) shares were down more than 1% premarket.