Sector Update: Energy Stocks Decline Premarket Friday

, MT Newswires -  9:21 AM ET 3/21/2025 US Markets

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09:21 AM EDT, 03/21/2025 (MT Newswires) -- Energy stocks declined premarket Friday as the Energy Select Sector SPDR Fund ( XLE ) recently fell by 0.6%.

The United States Oil Fund ( USO ) was down 0.4% and the United States Natural Gas Fund ( UNG ) was up 0.7%.

Front-month US West Texas Intermediate crude oil was down 0.4% at $67.81 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.4% to $71.68 per barrel. Natural gas futures were up 0.05% at $3.977 per 1 million British Thermal Units.

BP (BP) and Apollo Global Management ( APO ) said they reached an agreement for Apollo-managed funds to purchase a 25% non-controlling stake in BP's 12% interest in the pipeline carrying natural gas from Azerbaijan through Turkey. BP shares were 0.2% lower pre-bell.

Shell (SHEL) said its Brasil subsidiary, Shell Brazil Petroleo, has joined a consortium holding stakes in the Gato do Mato deep-water project in the pre-salt area of the Santos Basin offshore of Brazil's Rio de Janeiro coast. Shell shares were down 0.9% premarket.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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