03:31 PM EDT, 06/21/2024 (MT Newswires) -- Energy stocks were declining late Friday afternoon with the NYSE Energy Sector Index down 0.4% and the Energy Select Sector SPDR Fund (XLE) decreasing 0.3%.

The Philadelphia Oil Service Sector index was shedding 0.2%, and the Dow Jones US Utilities index eased 0.3%.

West Texas Intermediate crude oil declined 0.9% to $80.58 a barrel, while global benchmark Brent crude dropped 0.7% to $85.11 a barrel.

US natural gas stocks rose 71 billion cubic feet in the week ended June 14, larger than the 69 billion increase expected in a survey compiled by Bloomberg and following an increase of 74 billion cubic feet in the previous week. Stocks at 3.045 trillion c.f. were 12.7% higher than a week earlier and 22.6% above the 5-year average.

Henry Hub natural gas futures fell 1% to $2.72 per 1 million BTU.

In corporate news, Constellation Energy ( CEG ) shares were shedding 1.3% as Morgan Stanley raised the company's price target to $241 from $237, while keeping its overweight rating.

TotalEnergies (TTE) said as a shareholder of Offshore Wind One it has been awarded maritime concession N-11.2 covering 156 square kilometers in the North Sea by the German Federal Network Agency, allowing the development of a 3.5 GW offshore wind hub. TotalEnergies shares dropped 1.1%.

Plug Power ( PLUG ) secured an order for 25 megawatts of proton exchange membrane electrolyzer systems for a European customer. Its shares fell 3.6%.