03:21 PM EDT, 07/19/2024 (MT Newswires) -- Energy stocks were declining late Friday afternoon, with the NYSE Energy Sector Index decreasing 0.9% and the Energy Select Sector SPDR Fund (XLE) falling 1%.

The Philadelphia Oil Service Sector index was posting a 1.3% drop, and the Dow Jones US Utilities index was fractionally higher.

Front-month West Texas Intermediate crude oil fell 3.2% to $80.18 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $82.81 a barrel. Henry Hub natural gas futures rose 0.2% to $2.13 per 1 million BTU.

In corporate news, Ecopetrol ( EC ) shares eased 0.4% as it said Friday it's having talks with Occidental Petroleum ( OXY ) over the potential acquisition of a stake in assets owned by CrownRock. Occidental shares were falling 0.9%.