Energy stocks were falling premarket Monday, with The Energy Select Sector SPDR Fund (XLE) 2.3% lower.

The United States Oil Fund (USO) was down 6.3% and the United States Natural Gas Fund (UNG) was 6.7% lower.

Front-month US West Texas Intermediate crude oil was 6.7% lower at $67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 6.2% to reach $71.31 per barrel, and natural gas futures were down 7.6% at $2.37 per 1 million British Thermal Units.

Alliance Resource Partners (ARLP) shares were down more than 3% after the company reported lower Q3 earnings and revenue.

Blackstone (BX) is in late-stage discussions to acquire minority stakes in EQT's (EQT) interstate natural gas pipelines for about $3.5 billion, Reuters reported, citing people familiar with the matter. EQT shares were down more than 1% premarket.

Baker Hughes (BKR) said it had won contracts with Petrobras (PBR) to provide 77 km (48 miles) of flexible pipe systems that will be used for Brazil's pre-salt fields. Baker Hughes shares were more than 2% lower pre-bell.