09:19 AM EDT, 04/22/2024 (MT Newswires) -- Energy stocks were declining pre-bell Monday with the Energy Select Sector SPDR Fund ( XLE ) recently down 0.5%.

The United States Oil Fund ( USO ) was 1.3% lower and the United States Natural Gas Fund ( UNG ) was up 1.3%.

Front-month US West Texas Intermediate crude oil was down 1.6% at $80.88 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil lost 1.5% to $85.99 per barrel, and natural gas futures were up 1.9% at $2.02 per 1 million British Thermal Units.

TotalEnergies (TTE) said it has signed an agreement with Sapura Upstream Assets Sdn Bhd to buy its remaining 50% stake in Malaysian gas producer and operator SapuraOMV Upstream Sdn for $530 million. TotalEnergies shares were up 0.2% pre-bell.

Valero Energy ( VLO ) and Chevron ( CVX ) are set to buy oil shipped through Canada's Trans Mountain pipeline system for their refineries in California, Bloomberg News reported Friday, citing unnamed people familiar with the matter. Valero Energy ( VLO ) shares were down 0.1% and Chevron ( CVX ) shares were 0.4% lower pre-bell.