09:24 AM EDT, 05/29/2026 (MT Newswires) -- Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF ( XLE ) 0.5% lower.

The United States Oil Fund ( USO ) was down 2.2% and The United States Natural Gas Fund ( UNG ) was 2.6% higher.

Front-month US West Texas Intermediate crude oil was 1.9% lower at $87.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.9% to reach $91.98 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 0.3% pre-bell.

Eni (E) Industrial Evolution and Seri Industrial agreed on a joint project to build an integrated industrial supply chain in the lithium iron phosphate battery sector, the oil major said. Eni shares were 0.2% lower premarket.