09:05 AM EDT, 04/08/2026 (MT Newswires) -- Energy stocks were falling premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 5.1%.

The United States Oil Fund (USO) was 14.4% lower and the United States Natural Gas Fund (UNG) was down 3.1%.

Front-month US West Texas Intermediate crude oil was 17.9% lower at $92.79 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 16.2% to $91.54 per barrel, and natural gas futures were down 3.6% at $2.77 per 1 million British Thermal Units.

Exxon Mobil ( XOM ) stock was down more than 5% after the company said it expects its Q1 global oil-equivalent production to be 6% lower, compared with Q4 last year due to attacks on facilities in Qatar and the United Arab Emirates in March.