03:16 PM EDT, 04/11/2024 (MT Newswires) -- Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index down 0.4% and the Energy Select Sector SPDR Fund (XLE) shedding 0.1%.

The Philadelphia Oil Service Sector Index was decreasing 0.7%, and the Dow Jones US Utilities Index was fractionally lower.

Front-month West Texas Intermediate crude oil was declining 1% to $85.34 a barrel while the global benchmark Brent crude contract was decreasing 0.6% to $89.95 a barrel.

US natural gas stocks rose by 24 billion cubic feet in the week ended April 5, faster than the 13 billion cubic foot rise expected in a Bloomberg survey and following a decrease of 37 billion cubic feet in the previous week. Stocks at 2.283 trillion cubic feet are 23.5% higher than in the comparable week a year ago and 38.4% above their 5-year average.

Henry Hub natural gas futures sank 6.5% to $1.76 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) Chief Executive Darren Wood's total compensation in 2023 reached $36.9 million, up from $35.9 million in the prior year, the company said in a filing Thursday. Exxon shares were shedding 0.2%.