09:26 AM EDT, 04/02/2025 (MT Newswires) -- Energy stocks were leaning lower premarket Wednesday, with The Energy Select Sector SPDR Fund ( XLE ) down 0.6%.

The United States Oil Fund ( USO ) was down 0.4% and the United States Natural Gas Fund ( UNG ) was 1.6% higher.

Front-month US West Texas Intermediate crude oil was down 0.5% at $70.88 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell by 0.4% to $74.16 per barrel, and natural gas futures were 1.7% higher at $4.02 per 1 million British Thermal Units.

Phillips 66 (PSX) shares were nearly 2% lower after the company said it completed the acquisition of EPIC Y-Grade GP LLC and EPIC Y-Grade LP for about $2.2 billion in cash.

Diamondback Energy ( FANG ) stock was 0.6% lower after the company said it completed the acquisition of certain subsidiaries from Double Eagle IV Midco.

Ecopetrol ( EC ) is considering acquiring Carlyle Group's ( CG ) Colombian oil driller, SierraCol Energy, to boost reserves and output, Bloomberg reported, citing an interview with Ecopetrol ( EC ) executives. Shares of Ecopetrol ( EC ) were down 0.2% premarket.