Sector Update: Energy Stocks Fall in Early Trading Friday

09:32 AM EDT, 10/02/2026 (MT Newswires) -- Energy stocks were falling in early trading Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1%. The United States Oil Fund (USO) was down 4.3% and the United States Natural Gas Fund (UNG) was 0.2% higher. Front-month US West Texas Intermediate crude oil was 4% lower at $89.15 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.5% to $99.76 per barrel, and natural gas futures were down 0.1% at $2.96 per 1 million British Thermal Units. Venture Global (VG) and ConocoPhillips (COP) said they have signed a long-term sales and purchase agreement for liquefied natural gas. ConocoPhillips and Venture Global shares were down 0.8% and 0.4% respectively. BP (BP) said it continued negotiations with elected representatives of the United Steelworkers Local 7-1 trade union for its Whiting refinery but failed to reach an agreement. BP stock was down more than 1%. Eni (E) said it is extending a 20% discount, excluding value-added tax, on agricultural and fishing fuel for existing Enilive customers in Italy. Eni shares were 0.4% lower.