Energy stocks declined premarket Monday as the Energy Select Sector SPDR Fund (XLE) recently fell by 1%.

The United States Oil Fund (USO) was down 0.3% and the United States Natural Gas Fund (UNG) was over 1.1% lower.

Front-month US West Texas Intermediate crude oil was 0.2% lower at $69.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.3% to $72.36 per barrel, and natural gas futures were down 1% at $3.38 per 1 million British Thermal Units.

Petrobras (PBR) shares were 0.5% lower after the company said in a regulatory filing that it notified Brava Energia on Saturday of its decision to terminate the contract for the assignment of its stake in the Urugua and Tamba fields.

Vermilion Energy (VET) shares were down more than 1% after the company said it has agreed to acquire Westbrick Energy for $1.08 billion in cash.

Equinor (EQNR) shares were up 0.6% after the company said it has increased its stake in Orsted by 0.2% to 10% after receiving regulatory approvals.