09:05 AM EDT, 08/03/2026 (MT Newswires) -- Energy stocks were falling pre-bell Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.3%.

The United States Oil Fund (USO) was down 7% and the United States Natural Gas Fund (UNG) was 0.5% higher.

Front-month US West Texas Intermediate crude oil was 6.7% lower at $78.97 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 5.8% to $82.81 per barrel, and natural gas futures were up 2% at $2.80 per 1 million British Thermal Units.

Chevron ( CVX ) said it will expand its North American base oils distribution network through new agreements with HF Sinclair Lubricants & Specialties and Renkert Oil, starting May 1, 2027. Shares of Chevron ( CVX ) were down more than 1% premarket.