09:01 AM EST, 01/16/2025 (MT Newswires) -- Energy stocks were declining premarket Thursday, with The Energy Select Sector SPDR Fund (XLE) down 0.3%.

The United States Oil Fund (USO) was down 1% and the United States Natural Gas Fund (UNG) was 0.2% higher.

Front-month US West Texas Intermediate crude oil was 0.3% lower at $79.79 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.3% to reach $81.80 per barrel, and natural gas futures were up 1.1% at $4.13 per 1 million British Thermal Units.

Borr Drilling ( BORR ) shares were more than 3% lower after the company said it has received a notice to temporarily suspend its Galar, Gersemi, and Grid rigs in Mexico.