03:40 PM EST, 11/15/2024 (MT Newswires) -- Energy stocks were declining late Friday afternoon, with the NYSE Energy Sector Index down 0.3% and the Energy Select Sector SPDR Fund (XLE) shedding 0.1%.

The Philadelphia Oil Service Sector index fell 2%, while the Dow Jones US Utilities index added 1.3%.

Front-month West Texas Intermediate crude oil fell 2.4% to $67.05 a barrel while the global benchmark Brent crude contract dropped 2% to $71.13 a barrel. Henry Hub natural gas futures rose 1.6% to $2.83 per 1 million BTU.

In corporate news, Bloom Energy ( BE ) shares surged 60% after the company signed an agreement to supply American Electric Power (AEP) with up to 1 gigawatt of its fuel cells. American Electric shares rose 2.6%.

Sable Offshore ( SOC ) shares fell 6.7%. The company reported a Q3 net loss Thursday of $255.6 million, wider than the $44.1 million loss expected by two analysts polled by Capital IQ.

FuelCell Energy ( FCEL ) shares tumbled 14%. The company said Friday it will cut 17% of its workforce as part of a global restructuring plan aimed at reducing costs amid slower-than-expected clean energy investments.

Consolidated Water ( CWCO ) shares gained 5% after the company late Thursday reported Q3 earnings and revenue that beat analysts' estimates.