09:29 AM EDT, 05/22/2024 (MT Newswires) -- Energy stocks were down in Wednesday's pre-bell activity, with the Energy Select Sector SPDR Fund ( XLE ) declining 0.2%.

The United States Oil Fund ( USO ) was 0.7% lower and the United States Natural Gas Fund ( UNG ) was up 0.7%.

Front-month US West Texas Intermediate crude oil was down 1.2% at $77.70 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.2% to reach $81.86 per barrel, and natural gas futures were down 0.04% at $2.67 per 1 million British Thermal Units.

Dorian LPG ( LPG ) shares were more than 2% lower after the company reported fiscal Q4 adjusted earnings of $1.91 per diluted share, down from $1.94 a year earlier.

WEC Energy Group ( WEC ) stock was down nearly 2% after the company said it plans to offer $750 million of its convertible senior notes due June 1, 2027 and $750 million of its convertible senior notes due June 1, 2029 in a private offering.

Petroleo Brasileiro (PBR), known as Petrobras, said its appeal of a tax assessment of roughly 987 million Brazilian reais ($192.7 million) on the sale of oil derivatives has been dismissed by Brazil's Superior Tribunal de Justica. Petroleo Brasileiro stock was down 0.8% pre-bell.