09:28 AM EDT, 05/23/2025 (MT Newswires) -- Energy stocks were leaning lower pre-bell Friday, with The Energy Select Sector SPDR Fund ( XLE ) down 1%.

The United States Oil Fund ( USO ) was down 0.9% and The United States Natural Gas Fund ( UNG ) was 0.8% higher.

Front-month US West Texas Intermediate crude oil was down 1.2% at $60.49 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.1% to reach $63.73 per barrel, and natural gas futures were 0.5% lower at $3.24 per 1 million British Thermal Units.

Hallador Energy ( HNRG ) shares were down more than 16% after the company said a conversion transaction commitment agreement, effective Jan. 2, with a "leading global data center developer was being terminated by the counterparty."

Phillips 66 (PSX) will start laying off most employees at its Los Angeles facility in December, Reuters reported, citing sources familiar with the matter. Phillips 66 shares were 0.9% lower premarket.

Vermilion Energy ( VET ) shares were down 0.8% after the company said it has agreed to sell its Saskatchewan and Manitoba assets for $415 million in cash.