Energy stocks were falling pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.4%.

The United States Oil Fund (USO) was down 4.6% and the United States Natural Gas Fund (UNG) was 0.2% higher.

Front-month US West Texas Intermediate crude oil was 3.8% lower at $89.33 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.7% to $99.53 per barrel, and natural gas futures were down 0.2% 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 less than 2% premarket.