09:07 AM EDT, 05/15/2025 (MT Newswires) -- Energy stocks were declining pre-bell Thursday, with The Energy Select Sector SPDR Fund (XLE) down 1%.

The United States Oil Fund (USO) was down 1.8% and the United States Natural Gas Fund (UNG) was 0.4% lower.

Front-month US West Texas Intermediate crude oil was down 2.9% at $61.30 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.8% to $64.24 per barrel, and natural gas futures were 1.5% lower at $3.44 per 1 million British Thermal Units.

Eni (E) said it entered a period of exclusivity with Ares Alternative Credit Management to negotiate a definitive agreement for the sale of a 20% stake in Plenitude at an equity valuation of 9.8 billion ($10.98 billion) to 10.2 billion euros. Eni shares were more than 1% lower premarket.