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Sector Update: Energy Stocks Decline Pre-Bell Friday
2024-08-30 21:19
09:19 AM EDT, 08/30/2024 (MT Newswires) -- Energy stocks were declining pre-bell Friday with the Energy Select Sector SPDR Fund (XLE) down 0.7% recently.
The United States Oil Fund (USO) was 2.5% lower and the United States Natural Gas Fund (UNG) was down 0.2%.
Front-month US West Texas Intermediate crude oil was down 2.7% at $73.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.4% to $76.97 per barrel. Natural gas futures were up 0.2% at $2.141 per 1 million British Thermal Units.
Talos Energy (TALO) said President and Chief Executive Tim Duncan has stepped down and Joseph Mills has been named interim president and CEO until a successor is in place. Talos Energy shares were down nearly 3% premarket.
Frontline (FRO) shares were up 0.6% after it reported a Q2 revenue of $556 million, compared with $512.8 million a year earlier.
