Sector Update: Energy Stocks Decline Premarket Monday
MT newswire2026/10/05 13:2909:29 AM EDT, 10/05/2026 (MT Newswires) -- Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% lower. The United States Oil Fund (USO) was down 2.4% and the United States Natural Gas Fund (UNG) was 0.6% lower. Front-month US West Texas Intermediate crude oil was 1.9% lower at $89.36 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.4% to $101.82 per barrel, and natural gas futures were inactive at $3.04 per 1 million British Thermal Units. Cenovus Energy (CVE) has agreed to acquire Athabasca Oil at an implied enterprise value of 5.7 billion Canadian dollars ($4 billion), the company said. Cenovus Energy stock was down more than 1% pre-bell. ConocoPhillips (COP) is reviewing an unsolicited offer for its North Sea business, Reuters reported, citing Executive Chair Ryan Lance. ConocoPhillips shares were slightly lower premarket. Baker Hughes (BKR) stock was 0.5% higher after the company said it signed two strategic agreements to support the revitalization of Venezuela's energy infrastructure and expand oil and gas production.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cybertruck orders far exceed pre-production capacity, Tesla (TSLA.US) to refund deposits to a large number of customers
Elon Musk stated that Tesla will refund the Cybertruck deposits to a significant number of customers.
Barrick Gold (B.US) Q3 Results Mixed: Benefiting from Gold Price Dividend While Facing Cost Pressures
Barrick Mining (B.US) will release its financial results for the third quarter of 2026 before the U.S. stock market opens on November 9.
Europe Becomes a Safe Haven Amid AI Turbulence! Citi Turns Bullish on European Stocks, Downgrades US Stocks: Low AI Exposure Seen as Key Advantage
Citigroup strategists have downgraded the rating of U.S. stocks and upgraded the rating of European stocks, following the recent market turbulence caused by upheaval in the artificial intelligence industry.
Rumor: Tesla (TSLA.US) and SpaceX (SPCX.US) plan Terafab monthly production of one million wafers, feasibility questioned
According to reports, Tesla (TSLA.US) and SpaceX (SPCX.US) plan to achieve a production capacity of 1 million semiconductor wafers per month at the proposed Terafab factory starting in 2032.
Crypto prices
More
