01:34 PM EDT, 05/19/2025 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index down 1.1% and the Energy Select Sector SPDR Fund (XLE) dropping 1.5%.

The Philadelphia Oil Service Sector index fell 1.8%, while the Dow Jones US Utilities index rose 0.2%.

Front-month West Texas Intermediate crude oil was down 0.1% to $61.91 a barrel, and the global benchmark Brent crude contract was 0.3% lower at $65.28 a barrel. Henry Hub natural gas futures fell 6.2% to $3.13 per 1 million BTU.

In corporate news, TXNM Energy ( TXNM ) on Monday agreed to be acquired by Blackstone's (BX) infrastructure arm in a deal with a total enterprise value of about $11.5 billion, including debt and stock. TXNM shares rose past 7%.

Sable Offshore ( SOC ) said Monday that it restarted production at the Santa Ynez Unit, with oil now flowing to Las Flores Canyon at about 6,000 barrels per day. Its shares jumped 19%.

Crescent Energy ( CRGY ) said Monday it appointed J.D. Hall as chief operating officer, effective June 2. Crescent shares were shedding 0.4%.