09:16 AM EDT, 08/05/2025 (MT Newswires) -- Energy stocks were declining premarket Tuesday as the Energy Select Sector SPDR Fund ( XLE ) was down 0.2% recently.

The United States Oil Fund ( USO ) was 1.1% lower and the United States Natural Gas Fund ( UNG ) was up 1.9%.

Front-month US West Texas Intermediate crude oil was 1.5% lower at $65.31 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.3% to $67.87 per barrel. Natural gas futures were up 1.7% at $2.983 per 1 million British Thermal Units.

BP (BP) said it plans to review its business portfolio and cut more costs in a bid to improve shareholder value. Separately, the company reported lower Q2 underlying replacement cost profit and revenue. Shares of BP were up 1.1% pre-bell.

Marathon Petroleum ( MPC ) stock was down more than 1% after the company posted lower Q2 adjusted income and total revenue.

MPLX ( MPLX ) shares were down 0.4% after the company reported lower Q2 earnings and revenue.