Sector Update: Energy Stocks Decline Pre-Bell Tuesday
MT newswire2026/10/06 13:2709:27 AM EDT, 10/06/2026 (MT Newswires) -- Energy stocks were declining pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1% lower. The United States Oil Fund (USO) was down 1.9% and the United States Natural Gas Fund (UNG) was 0.9% higher. Front-month US West Texas Intermediate crude oil was 2.4% lower at $87.26 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.7% to $97.63 per barrel, and natural gas futures were up 0.7% at $3.09 per 1 million British Thermal Units. TORM (TRMD) said that OCM Njord, a company indirectly owned by funds managed by Oaktree Capital Management and its affiliates, priced a secondary offering of 6.3 million Class A shares for gross proceeds of about $253.5 million. TORM stock was down more than 3% premarket. Energy Transfer (ET) said it signed a deal to acquire Vaquero Midstream in a bolt-on deal valued at about $2.63 billion. Shares of Energy Transfer were 0.2% higher pre-bell. KBR (KBR) has been awarded a project by Aramco to support engineering and project execution services across the Marjan offshore field in the Arabian Gulf. KBR stock was 0.8% lower premarket.
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