Energy stocks were lower premarket Wednesday, with The Energy Select Sector SPDR Fund (XLE) down 0.2%.
The United States Oil Fund (USO) was 0.8% lower and the United States Natural Gas Fund (UNG) was up 1.4%.
Front-month US West Texas Intermediate crude oil was down 0.6% at $73.31 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to reach $77.02 per barrel, and natural gas futures were down 1.8% at $3.41 per 1 million British Thermal Units.
Schlumberger (SLB) and ChampionX's (CHX) proposed merger will be placed under a phase 1 inquiry by the UK Competition and Markets Authority, according to a Wednesday statement by the regulator. Schlumberger shares were down 0.2% while ChampionX shares were 1.3% lower.
Hess (HES) stock was 1.2% higher after the company reported higher Q4 adjusted earnings and revenue.
Hess Midstream (HESM) shares were up 2.2% after the company posted higher Q4 net income and revenue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.