Sector Update: Energy Stocks Fall Premarket Thursday

09:27 AM EDT, 10/01/2026 (MT Newswires) -- Energy stocks were falling premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.2%. The United States Oil Fund (USO) was up 0.6% and the United States Natural Gas Fund (UNG) was 0.2% lower. Front-month US West Texas Intermediate crude oil was 0.5% higher at $90.83 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.6% to $99.58 per barrel, and natural gas futures were down 0.5% at $3.01 per 1 million British Thermal Units. ConocoPhillips (COP) has informed employees, partners, and regulators that it is evaluating a potential sale of its Norway business and the Teesside oil terminal in the UK after receiving an unsolicited purchase offer, the company said. Shares of ConocoPhillips were marginally advancing pre-bell. Magnolia Oil & Gas (MGY) said it expects 2027 oil and total production to grow 4% to 5% from a pro forma Q2 base following its acquisition of WildFire Energy. Magnolia Oil & Gas stock was 0.2% higher premarket. Eni (E) said it completed the restructuring of Plenitude's ownership with Ares Management (ARES) and Energy Infrastructure Partners. Eni shares were 0.9% lower pre-bell.