09:08 AM EDT, 04/07/2025 (MT Newswires) -- Energy stocks declined premarket Monday as the Energy Select Sector SPDR Fund (XLE) was recently down 2%.

The United States Oil Fund (USO) was down 3% and the United States Natural Gas Fund (UNG) was 1.3% higher.

Front-month US West Texas Intermediate crude oil was down 1.5% at $61.06 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined by 1.5% to $64.61 per barrel. Natural gas futures were 0.2% higher at $3.846 per 1 million British Thermal Units.

Shell (SHEL) shares were down more than 5% after the company lowered its Q1 liquefied natural gas production outlook to between 6.4 million and 6.8 million metric tons, down from a previous forecast of 6.6 million to 7.2 million metric tons, due to weather impact and unplanned maintenance, including in Australia.