01:20 PM EDT, 10/18/2024 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.5%.

The Philadelphia Oil Service Sector index dropped 2.3%, while the Dow Jones US Utilities index was rising 0.5%.

Front-month West Texas Intermediate crude oil was declining 1.4% to $69.71 a barrel while the global benchmark Brent crude contract was dropping 1.2% to $73.53 a barrel. Henry Hub natural gas futures slumped 3.4% to $2.27 per 1 million BTU.

In corporate news, Centrus Energy ( LEU ) shares surged 22%. The company said Thursday its American Centrifuge Operating unit is one of the four firms awarded a contract from the US Department of Energy to boost domestic commercial production of uranium.