morning energy update (not much being said though)Sector Update: Energy
09:05 AM EDT, 07/12/2021 (MT Newswires) -- Energy stocks were retreating pre-bell Monday as the Energy Select Sector SPDR (XLE) was recently slipping by more than 1%. The United States Oil Fund (USO) was nearly 1% lower and the United States Natural Gas Fund (UNG) was down 0.08%.
West Texas Intermediate crude oil was down $0.88 at $73.68 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude lost $0.84 to $74.71 per barrel and natural gas futures were 4 cent higher at $3.71 per 1 million BTU.
Eni (E) and Red Rock Power said that they have formed a 50/50 partnership that will forward a joint bid in the forthcoming ScotWind offshore leasing round. Eni was down 1% in premarket trading.