01:30 PM EDT, 03/22/2024 (MT Newswires) -- Energy stocks were declining Friday afternoon, with the NYSE Energy Sector Index decreasing 0.3% and the Energy Select Sector SPDR Fund (XLE) down 0.4%.

The Philadelphia Oil Service Sector index fell 0.7%, while the Dow Jones US Utilities index was increasing 0.1%.

Front-month West Texas Intermediate crude oil was shedding 0.4% to $80.75 a barrel, and the global benchmark Brent crude contract was down 0.4% at $85.46 a barrel. Henry Hub natural gas futures were 1% lower at $1.67 per 1 million BTU.

In corporate news, Summit Midstream Partners ( SMLP ) surged 36% after the company said it has sold its Utica Position to a subsidiary of MPLX for $625 million, marking the end of its strategic review process.