Energy stocks declined premarket Monday as the Energy Select Sector SPDR Fund (XLE) was recently down 2.7%.
The United States Oil Fund (USO) was down 3.4% and the United States Natural Gas Fund (UNG) was 0.3% higher.
Front-month US West Texas Intermediate crude oil was down 1.9% at $60.80 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined by 1.8% to $64.39 per barrel, and natural gas futures were 1% higher at $3.88 per 1 million British Thermal Units.
Shell (SHEL) shares were down more than 5% after the company lowered its Q1 liquefied natural gas production outlook to between 6.4 million and 6.8 million metric tons, down from a previous forecast of 6.6 million to 7.2 million metric tons, due to weather impact and unplanned maintenance, including in Australia.
Petrobras (PBR) said it has received a license to operate a fauna care and rehabilitation unit in the municipality of Oiapoque in Brazil's Amapa state. Shares of Petrobras were 3% lower premarket.
Woodside (WDS) shares were up nearly 2% after the company said it has agreed to sell a 40% interest in its Louisiana LNG Infrastructure business to Stonepeak.
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.