03:30 PM EDT, 06/13/2024 (MT Newswires) -- Energy stocks were slipping late Thursday afternoon, with the NYSE Energy Sector Index down 1% and the Energy Select Sector SPDR Fund (XLE) shedding 0.8%.

The Philadelphia Oil Service Sector index was posting a 2% drop, and the Dow Jones US Utilities index was up 0.5%.

Front-month West Texas Intermediate crude oil decreased 0.2% to $78.38 a barrel and the global benchmark Brent crude contract shed 0.1% to $82.51 a barrel.

US natural gas stocks rose by 74 billion cubic feet in the week ended June 7, above the 72 billion gain expected in a survey compiled by Bloomberg as of 7:40 am ET and following a downwardly revised increase of 96 billion cubic feet in the previous week. Stocks at 2.974 trillion cubic feet are 13.9% higher than in the comparable week a year ago and 23.9% above their 5-year average.

Henry Hub natural gas futures dropped 3.3% to $2.95 per 1 million BTU.

In corporate news, Crescent Energy ( CRGY ) shares dropped 2.4% after it said Thursday that indirect unit Crescent Energy Finance plans to offer $750 million of notes due 2033.