Energy stocks were falling pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.

The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 0.5% lower.

Front-month US West Texas Intermediate crude oil was 2.5% lower at $99.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.3% to $102.31 per barrel, and natural gas futures were down 0.4% at $2.88 per 1 million British Thermal Units.

Petrobras (PBR) has renewed and expanded its agreement with Computer Modelling for software licensing and support by five years, the Canada-based software and consulting company said. Shares of Petrobras were down 1% premarket.