09:20 AM EDT, 08/13/2024 (MT Newswires) -- Energy stocks were declining premarket Tuesday as the Energy Select Sector SPDR Fund ( XLE ) was recently down 0.5%.

The United States Oil Fund ( USO ) was flat and the United States Natural Gas Fund ( UNG ) was up 1.7%.

Front-month US West Texas Intermediate crude oil was down 0.4% at $79.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.5% to $81.86 per barrel, and natural gas futures were up 1.2% at $2.22 per 1 million British Thermal Units.

Kodiak Gas Services ( KGS ) shares were nearly 3% lower after it reported Monday Q2 earnings of $0.06 per diluted share, down from $0.30 a year earlier.

Western Midstream Partners ( WES ) shares were down more than 4% after saying a secondary offering of 19 million common units by affiliates of Occidental (OXY) was priced for gross proceeds of $685.9 million.

Occidental (OXY) shares were nearly 2% lower after it disclosed plans for a secondary offering of nearly 29.6 million common shares held by former investors in CrownRock Holdings.