Sector Update: Energy Stocks Fall Premarket Monday

09:27 AM EST, 11/02/2026 (MT Newswires) -- Energy stocks were falling premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.2%. The United States Oil Fund (USO) was down 3.2% and the United States Natural Gas Fund (UNG) was 2.5% higher. Front-month US West Texas Intermediate crude oil was 6% lower at $97.83 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 6.1% to $106.46 per barrel, and natural gas futures were up 1.5% at $2.94 per 1 million British Thermal Units. Kosmos Energy (KOS) shares were down more than 9% after the company reported a swing to Q3 adjusted net income amid higher revenue, with both still missing analysts' expectations. Venture Global (VG) has started commercial operations at the first phase of its Plaquemines liquefied natural gas export project in Louisiana, along with the sale of LNG to the first phase's long-term customers, the company said. Venture Global stock was down nearly 3% pre-bell. Borr Drilling (BORR) shares were 1% lower after the company said it recovered the body of a fourth person following an incident involving its Prospector 5 rig offshore Gabon.