09:25 AM EDT, 08/05/2024 (MT Newswires) -- Energy stocks were declining premarket Monday with the Energy Select Sector SPDR Fund ( XLE ) down 1.9% recently.

The United States Oil Fund ( USO ) was 1.5% lower and the United States Natural Gas Fund ( UNG ) was down 1.6%.

Front-month US West Texas Intermediate crude oil was down 1.8% at $72.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.4% to $75.74 per barrel, and natural gas futures were down 2.4% at $1.92 per 1 million British Thermal Units.

Occidental Petroleum ( OXY ) shares fell past 4% after it filed a registration statement Friday covering the potential resale of up to 29.6 million common shares of the company by a stockholder from time to time.

Petrobras (PBR) said it has achieved the main target of the Uchuva-2 well, confirming the extent of the gas discovery made in 2022 with the drilling of the Uchuva-1 well. Petrobras shares were 3% lower pre-bell.

Cheniere Energy (LNG) said it has entered into a long-term liquefied natural gas sale and purchase agreement with Galp Trading, a subsidiary of Galp Energia. Cheniere Energy shares were over 2% lower premarket.