09:29 AM EDT, 06/16/2026 (MT Newswires) -- Energy stocks were declining pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF ( XLE ) falling 0.7%.

The United States Oil Fund ( USO ) was down 4% and the United States Natural Gas Fund ( UNG ) was 0.1% higher.

Front-month US West Texas Intermediate crude oil was 3.9% lower at $77.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.3% to $80.47 per barrel, and natural gas futures were up 0.6% at $3.17 per 1 million British Thermal Units.

Sable Offshore ( SOC ) stock was down more than 4% after the company said it launched a proposed senior secured term loan of up to $1 billion to refinance its existing secured term loan with Exxon Mobil ( XOM ) .

Shell's (SHEL) electric vehicle charging service Shell Recharge and SINEXCEL have launched a joint laboratory in Shenzhen, China, to develop EV charging technologies and energy solutions, the Chinese energy technology company said. Shell shares were 0.5% lower premarket.

ConocoPhillips ( COP ) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported, citing people familiar with the matter. ConocoPhillips ( COP ) stock was down more than 1% pre-bell.