09:20 AM EDT, 09/02/2025 (MT Newswires) -- Energy stocks were declining pre-bell Tuesday, with the Energy Select Sector SPDR Fund ( XLE ) down 0.3%.

The United States Oil Fund ( USO ) was 1.4% higher and the United States Natural Gas Fund ( UNG ) was down 3.9%.

Front-month US West Texas Intermediate crude oil was 1.1% higher at $64.70 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.1% to $68.22 per barrel, and natural gas futures were down 3.7% at $2.89 per 1 million British Thermal Units.

TotalEnergies (TTE), along with its partner South Atlantic Petroleum, signed a production sharing contract for the PPL 2000 and PPL 2001 exploration licenses offshore Nigeria. Shares of TotalEnergies were down 0.6% premarket.

TechnipFMC ( FTI ) said it has been awarded two flexible pipe contracts from Petroleo Brasileiro (PBR), or Petrobras, for use in multiple basins in Brazil. Petrobras shares were down more than 1% pre-bell.

Diamondback Energy ( FANG ) will sell Environmental Disposal Systems to Deep Blue Midland Basin for $750 million and renew a 15-year water dedication across a 12-county Midland Basin area, Deep Blue said. Diamondback Energy ( FANG ) stock was 0.4% lower premarket.