Energy heavyweights were trading lower pre-bell Thursday. West Texas Intermediate crude oil for July delivery was down $1.83 at $59.59 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude July contract lost $1.56 to $69.43 per barrel and June natural gas futures were 2 cents higher at $2.57 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was down 2.83%, while the United States Natural Gas fund was 0.41% higher.
In other sector news:
(-) Seadrill (SDRL) was slightly lower after it reported a net loss of $2.95 per diluted share for Q1, significantly wider than last year's $0.36 and the Street view of $2.41 by three analysts.
(-) BP (BP) is nearing a deal to sell its stake in the Gulf of Suez Petroleum Company (GUPCO) to Dubai-based Dragon Oil for more than $600 million, Reuters reported, citing sources. BP was recently declining by almost 2%.
(=) Petroleo Brasileiro (PBR) was unchanged after saying it was authorized by the board to pursue an additional sale of its stake in its distribution arm, Petrobras Distribuidora, by way of a follow-on public offering.
Price: 6.99, Change: -0.04, Percent Change: -0.57
|NV5 Wins $3 Mln Chief Building Official Contract in ...|
|Melco Resorts & Entertainment Agrees to Acquire 75% ...|
|Sonim Technologies Posts Q1 Revenue In Line With Vie...|
|Sector Update: Energy Giants Mixed In Pre-Market Mon...|
|FDA Accepts GlaxoSmithKline Application for Zejula f...|