09:27 AM EDT, 09/30/2025 (MT Newswires) -- Energy stocks were leaning lower premarket Tuesday, with the Energy Select Sector SPDR Fund ( XLE ) declining by 0.7%.

The United States Oil Fund ( USO ) was 0.9% lower and the United States Natural Gas Fund ( UNG ) was up nearly 2%.

Front-month US West Texas Intermediate crude oil was 1.3% lower at $62.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.3% to $66.22 per barrel. Natural gas futures were up 2.1% at $3.334 per 1 million British Thermal Units.

Tamboran Resources ( TBN ) shares were up more than 14% after the company said it has entered a definitive agreement to acquire Falcon Oil & Gas for about 6.5 million common shares and $23.7 million in cash, valuing the company at about $172 million. Separately, Tamboran Resources ( TBN ) said the Beetaloo Joint Venture has made a final investment decision for the Shenandoah South pilot project.

Shell (SHEL) said its UK subsidiary has started production from the Victory gas field in the UK North Sea. Shell shares were down more than 1% premarket.

Exxon Mobil ( XOM ) plans to cut about 2,000 jobs worldwide as it consolidates smaller offices into larger regional hubs, part of a broader effort to boost efficiency and streamline operations, Bloomberg reported, citing an internal memo from CEO Darren Woods. Exxon Mobil ( XOM ) stock was 0.5% lower pre-bell.