Energy stocks were declining pre-bell Friday with the Energy Select Sector SPDR Fund (XLE) 0.1% lower recently.
The United States Oil Fund (USO) was down 1.1% and the United States Natural Gas Fund (UNG) was 0.8% lower.
Front-month US West Texas Intermediate crude oil was 1.1% lower at $67.56 per barrel on the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1% to $71.36 per barrel, and natural gas futures were down 1.7% at $3.03 per 1 million British Thermal Units.
Matador Resources (MTDR) shares were up over 2% after the company said it agreed to contribute its Pronto Midstream subsidiary to its San Mateo Midstream joint venture with Five Point Energy for an implied valuation of about $600 million.
BW LPG (BWLP) said Friday that Avance Gas Holdings delivered the vessel BW Rigel in connection with the Aug. 15 stock exchange announcement for the acquisition of 12 very large gas carriers. BW LPG shares were down more than 1% premarket.
BP (BP) is looking to sell up to a 49% stake in its US natural gas pipeline network to raise as much as $3 billion, Reuters reported, citing people with knowledge of the matter. BP shares were 0.3% higher pre-bell.
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