01:29 PM EDT, 10/08/2025 (MT Newswires) -- Energy stocks declined Wednesday afternoon, with the NYSE Energy Sector Index shedding 0.5% and the Energy Select Sector SPDR Fund (XLE) down 0.4%.

The Philadelphia Oil Service Sector Index was decreasing 0.8%, while the Dow Jones US Utilities Index rose 0.6%.

Front-month West Texas Intermediate crude oil was rising 1.6% to $62.71 a barrel, and the global benchmark Brent crude contract was advancing 1.4% to $66.37 a barrel. Henry Hub natural gas futures fell 4.9% to $3.33 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) signed a deal with the Iraqi government to operate in the country's oil fields, including the Majnoon oilfield in Basra, Iraqi Prime Minister Mohammed Shia al-Sudani said Wednesday. Exxon shares added 0.6%.