09:03 AM EDT, 05/30/2025 (MT Newswires) -- Energy stocks were down premarket Friday as the Energy Select Sector SPDR Fund (XLE) was 0.7% lower recently.

The United States Oil Fund (USO) was down 0.8% and the United States Natural Gas Fund (UNG) was 1.7% lower.

Front-month US West Texas Intermediate crude oil was down 0.5% at $60.63 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.7% to $62.90 per barrel, and natural gas futures were 1.1% lower at $3.48 per 1 million British Thermal Units.

EOG Resources ( EOG ) shares were more than 1% lower after the company said it has reached a definitive agreement with Canada Pension Plan Investment Board and Encino Energy to acquire Encino Acquisition Partners for $5.6 billion, inclusive of the company's debt.