Sector Update: Energy Stocks Decline Premarket Thursday

Last Updated: Thursday, September 29, 2022 9:26 AM | MT Newswires

Energy stocks were declining pre-bell Thursday with the Energy Select Sector SPDR (XLE) recently slipping 0.6%. The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 3.9% lower.

West Texas Intermediate crude oil was up by 0.9% at $82.87 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude also gained 0.9% to $90.10 per barrel and natural gas futures were 2.2% lower at $6.80 per 1 million BTU.

CGG said it licensed its new GeoVerse Carbon Storage multi-client study to TotalEnergies (TTE). TotalEnergies was 1% lower recently.

HF Sinclair (DINO) said it has agreed to repurchase from REH Co. about 1.9 million shares of its common stock in a privately negotiated transaction. HF Sinclair shares were recently inactive.

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