09:05 AM EDT, 05/29/2026 (MT Newswires) -- Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.

The United States Oil Fund (USO) was down 2.5% and the United States Natural Gas Fund (UNG) was 3% higher.

Front-month US West Texas Intermediate crude oil was 1.2% lower at $87.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $92.27 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.

Chevron's ( CVX ) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported, citing industry sources. Shares of Chevron ( CVX ) were down 0.4% pre-bell.