Sector Update: Energy Stocks Fall Pre-Bell Thursday

MT Newswires Live
06 Mar

Energy stocks were falling pre-bell Thursday, with The Energy Select Sector SPDR Fund (XLE) down 0.4%.

The United States Oil Fund (USO) was 0.4% higher and the United States Natural Gas Fund (UNG) was down 2.2%.

Front-month US West Texas Intermediate crude oil was up 0.5% at $66.67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.3% to reach $69.49 per barrel, and natural gas futures were 1.5% lower at $4.39 per 1 million British Thermal Units.

Venture Global (VG) shares were down past 18% after the company reported a decline in Q4 revenue, while earnings missed analysts' expectations.

Canadian Natural Resources (CNQ) stock was over 1% higher even after the company posted lower Q4 adjusted earnings and revenue.

PBF Energy (PBF) said it will proceed with repairs to restart its Martinez refinery in California, which has a capacity of 157,000-barrel-per-day but has not been operational since the Feb. 1 fire. PBF Energy shares were down 0.7% premarket.

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