09:28 AM EDT, 10/14/2024 (MT Newswires) -- Energy stocks were declining premarket Monday, with The Energy Select Sector SPDR Fund ( XLE ) down 0.7%.

The United States Oil Fund ( USO ) was down 1.9% and the United States Natural Gas Fund ( UNG ) was 2.9% lower.

Front-month US West Texas Intermediate crude oil was 2% lower at $74.02 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.9% to $77.52 per barrel, and natural gas futures were down 2.6% at $2.57 per 1 million British Thermal Units.

Kinder Morgan's ( KMI ) approvals and permits to allow its subsidiary to build a 32-mile gas pipeline in Tennessee were put on hold by a US appeals court amid pressure from environmental groups. Kinder Morgan ( KMI ) shares were 0.3% lower premarket.

KBR (KBR) said it has received an engineering and procurement services contract for Shell's (SHEL) Manatee gas field project in Trinidad and Tobago. Shell shares were down 0.4% pre-bell.

Baker Hughes ( BKR ) and Repsol said they have partnered to develop and deploy next-generation AI capabilities via the Leucipa automated field production solution. Baker Hughes ( BKR ) shares were slightly lower pre-bell.