01:22 PM EDT, 05/05/2025 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index falling 1.4% and the Energy Select Sector SPDR Fund (XLE) dropping 1.7%.

The Philadelphia Oil Service Sector index was shedding 1.4%, and the Dow Jones US Utilities index was down 0.5%.

Front-month West Texas Intermediate crude oil was declining 2.1% to $57.09 a barrel, and the global benchmark Brent crude contract was dropping 1.8% to $60.21 a barrel. Henry Hub natural gas futures were 2% lower at $3.56 per 1 million BTU.

In corporate news, Sunoco ( SUN ) agreed to buy Canada-based Parkland in a cash-and-equity deal worth about $9.1 billion, including debt, the companies said in separate statements Monday. Sunoco ( SUN ) shares were falling 6.1%.