09:24 AM EDT, 04/10/2025 (MT Newswires) -- Energy stocks were falling premarket Thursday, with The Energy Select Sector SPDR Fund ( XLE ) down 2.1%.

The United States Oil Fund ( USO ) was down 3.9% and the United States Natural Gas Fund ( UNG ) was 1.8% lower.

Front-month US West Texas Intermediate crude oil was down 3.2% at $60.35 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell by 3.2% to $63.42 per barrel, and natural gas futures were 2.4% lower at $3.73 per 1 million British Thermal Units.

Equinor ( EQNR ) said it is establishing a new power business by combining its renewables portfolio with flexible power assets from its marketing, midstream, and processing business. The company's shares were down nearly 2% pre-bell.

Schlumberger ( SLB ) has proposed divesting its UK production chemical technologies business to address competition concerns raised by its planned acquisition of ChampionX, the UK Competition and Markets Authority said. The company's stock was more than 3% lower premarket.

Energy Transfer ( ET ) unit Energy Transfer LNG Export entered into an agreement to develop its Lake Charles, Louisiana, liquefied natural gas project jointly with MidOcean Energy. The company's shares were down more than 1% pre-bell.