---
title: "Sector Update: Energy Stocks Decline Pre-Bell Thursday"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285564519.md"
description: "Energy stocks declined premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) down 1.6%. The United States Oil Fund (USO) fell 3.5%, and natural gas futures dropped 1%. Crude oil prices also decreased, with WTI at $91.20 per barrel and Brent at $97.56. Shell shares fell nearly 2% after reporting lower Q1 revenue, while Tenaris shares dropped 4% due to anticipated lower Q2 sales. MGE Energy stock was down 4.4% following a $250 million public offering announcement."
datetime: "2026-05-07T13:27:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285564519.md)
  - [en](https://longbridge.com/en/news/285564519.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285564519.md)
---

# Sector Update: Energy Stocks Decline Pre-Bell Thursday

09:27 AM EDT, 05/07/2026 (MT Newswires) -- Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF ( XLE ) retreating by 1.6%.

The United States Oil Fund ( USO ) was down 3.5%, while The United States Natural Gas Fund ( UNG ) was 0.6% lower.

Front-month US West Texas Intermediate crude oil was down 4.1% at $91.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.7% to $97.56 per barrel, and natural gas futures were 1% lower at $2.70 per 1 million British Thermal Units.

Shell (SHEL) shares were down nearly 2% in early activity after the company reported lower-than-expected Q1 revenue.

Tenaris ( TS ) shares were 4% lower in premarket activity after the company said its Q2 sales will be affected by lower shipments in the Middle East. Tenaris ( TS ) also named Gabriel Podskubka its chief executive officer.

MGE Energy ( MGEE ) stock was down 4.4% before the opening bell after the company said late Wednesday it has launched an underwritten public offering of $250 million common shares, including about $75 million of shares to be sold directly by the company and roughly $175 million to be sold through forward sale agreements.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

### Related Stocks

- [MGEE.US](https://longbridge.com/en/quote/MGEE.US.md)
- [SHEL.WI.US](https://longbridge.com/en/quote/SHEL.WI.US.md)
- [SHEL.US](https://longbridge.com/en/quote/SHEL.US.md)
- [TS.US](https://longbridge.com/en/quote/TS.US.md)
- [XLE.US](https://longbridge.com/en/quote/XLE.US.md)
- [XOP.US](https://longbridge.com/en/quote/XOP.US.md)
- [USO.US](https://longbridge.com/en/quote/USO.US.md)
- [SHEH.US](https://longbridge.com/en/quote/SHEH.US.md)
- [UNG.US](https://longbridge.com/en/quote/UNG.US.md)
- [TNRSF.US](https://longbridge.com/en/quote/TNRSF.US.md)

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- [Transaction in Own Shares | SHEL Stock News](https://longbridge.com/en/news/287037545.md)
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- [Tenaris (TEN) Q1 Earnings: What To Expect](https://longbridge.com/en/news/286996746.md)