09:22 AM EDT, 05/30/2024 (MT Newswires) -- Energy stocks were falling premarket Thursday, 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 ) retreated 1.8%.

Front-month US West Texas Intermediate crude oil was down 1% at $78.41 per barrel at the New York Mercantile Exchange. Global benchmark Brent declined 1% to $82.64 per barrel, and natural gas futures were down 2% at $2.61 per 1 million BTU.

BW LPG ( BWLP ) shares were up 11% after the company reported higher Q1 earnings and shipping and product services revenue.

Hess Midstream ( HESM ) shares were down 4.2% after the company said a secondary public offering of 10 million of its class A shares has been priced for gross proceeds of $343 million to the selling shareholder.