Energy stocks were trading higher premarket Monday with the Energy Select Sector SPDR (XLE) recently advancing by 0.13%. The United States Oil Fund (USO) was climbing by 0.07% and the United States Natural Gas Fund (UNG) was shedding more than 1% in value.
West Texas Intermediate crude oil was down $0.15 at $69.47 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude lost $0.26 to $71.63 per barrel and natural gas futures were 5 cents lower at $3.05 per 1 million BTU.
Transocean (RIG) announced a pact with Sembcorp Marine unit Jurong Shipyard Pte to push back delivery of the ultra-deepwater drillships Deepwater Atlas and Deepwater Titan. Transocean was more than 1% higher in recent trading.
DTE Energy (DTE) said Friday it has retired its coal-fired power plant in River Rouge, Mich. The plant stopped producing power May 31, according to the company. DTE was inactive recently.