Sector Update: Energy Stocks Decline Pre-Bell Wednesday
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Energy stocks are declining pre-bell on Wednesday, with The Energy Select Sector SPDR Fund (XLE) down 0.4%. The United States Oil Fund (USO) fell 2%, while the United States Natural Gas Fund (UNG) increased by 0.4%. Crude oil prices dropped, with WTI at $50.85 per barrel and Brent at $63.93. FLEX LNG and Kodiak Gas Services saw their stocks decline over 1% due to lower earnings and a secondary offering, respectively. Chevron expects over 10% EPS growth at $70 Brent but saw a 0.2% drop in shares pre-bell.
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