03:53 PM EDT, 09/05/2025 (MT Newswires) -- Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index falling 1.6% and the Energy Select Sector SPDR Fund (XLE) dropping 2%.

The Philadelphia Oil Service Sector index was decreasing 0.7%, and the Dow Jones US Utilities index was shedding 0.4%.

Front-month West Texas Intermediate crude oil declined 2.2% to $62.06 a barrel, and the global benchmark Brent crude contract dropped 1.9% to $65.71 a barrel. Henry Hub natural gas futures were 1.2% lower at $3.04 per 1 million BTU.

In corporate news, Southern's (SO) electric subsidiary Georgia Power said Friday it got approval from the Georgia Public Service Commission to certify five new utility-scale solar site power purchase agreements. Southern shares eased 0.1%.

Halliburton ( HAL ) has been downsizing its workforce in recent weeks as the US oil sector faces rising costs and lower prices, Reuters reported. Halliburton ( HAL ) shares were down 1.8%.

Sunoco ( SUN ) shares shed 0.7%. The company said late Thursday it priced at 100% a $1 billion private offering of 5.625% senior notes due 2031, and $900 million of 5.875% senior notes due 2034.