Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.8% lower.

The United States Oil Fund (USO) was down 0.7% and the United States Natural Gas Fund (UNG) was 1% higher.

Front-month US West Texas Intermediate crude oil was 2.5% lower at $80.33 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.5% to $86.33 per barrel, and natural gas futures were up 1.8% at $2.82 per 1 million British Thermal Units.

Enbridge (ENB) said it signed a definitive agreement to acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash. Enbridge stock was slightly declining pre-bell.