08:51 AM EDT, 05/07/2026 (MT Newswires) -- Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF ( XLE ) retreating by 1.7%.

The United States Oil Fund ( USO ) was down 4.9%, while the United States Natural Gas Fund ( UNG ) was 0.8% lower.

Front-month US West Texas Intermediate crude oil was down 4.1% to $91.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 3.7% to $97.56 per barrel, and natural gas futures were 1% lower at $2.70 per 1 million British Thermal Units.

Shell (SHEL) shares fell 2.3% in early activity after the company reported lower-than-expected Q1 revenue.