Energy stocks slipped ahead of the market open on Thursday as the Energy Select Sector SPDR Fund ETF (XLE) inched 0.2% higher. The United States Oil Fund (USO) dropped 0.1% while the United States Natural Gas Fund (UNG) fell 3%
West Texas Intermediate crude oil was down $0.51 at $82.15 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude lost $0.65 to $83.93 per barrel and natural gas futures were 26 cents lower at $5.94 per 1 million BTU.
PBF Energy (PBF) rose more than 3% after the company swung to Q3 profit and higher revenue.
TechnipFMC (FTI) and Italian oilfield services company Saipem said Thursday they have agreed to work together to pursue projects worldwide. FTI shares were higher by just a fraction.
Murphy USA (MUSA) shares were inactive after reporting a higher net income and operating revenue in its recent quarter.