Sector Update: Energy Stocks Decline Premarket Monday

MT Newswires Live
Aug 18

Energy stocks were declining pre-bell Monday, with the Energy Select Sector SPDR Fund (XLE) 0.1% lower.

The United States Oil Fund (USO) was 0.5% lower and the United States Natural Gas Fund (UNG) was down 1.8%.

Front-month US West Texas Intermediate crude oil was 0.3% higher at $62.96 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.3% to $66.02 per barrel, and natural gas futures were down 1.3% at $2.88 per 1 million British Thermal Units.

Solaris Energy Infrastructure (SEI) stock was up more than 2% after the company said it has acquired its partner HVMVLV, an electrical control and distribution equipment provider.

Duke Energy (DUK) submitted its final license application to the Federal Energy Regulatory Commission for the Bad Creek pumped storage hydroelectric station in Oconee County, South Carolina, to extend plant operations for an additional 50 years. Duke Energy shares were 0.4% higher premarket.

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