09:22 AM EDT, 07/09/2024 (MT Newswires) -- Energy stocks were leaning lower pre-bell Tuesday with the Energy Select Sector SPDR Fund ( XLE ) recently declining by 0.6%.

The United States Oil Fund ( USO ) was down 0.20% and the United States Natural Gas Fund ( UNG ) was 2.2% higher.

Front-month US West Texas Intermediate crude oil was down 0.2% at $82.16 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.2% to $85.54 per barrel, and natural gas futures were up 2.3% at $2.42 per 1 million British Thermal Units.

BP (BP) fell past 4% after saying it expects "significantly lower" refining margins in Q2, potentially impacting earnings from oil products by $500 million to $700 million.

Dominion Energy ( D ) was up 0.4% after saying its Virginia Electric and Power subsidiary agreed to acquire the Kitty Hawk North Wind offshore lease and associated developments from Avangrid ( AGR ) for about $160 million, including $3,000 per acre for the nearly 40,000-acre site.