01:15 PM EST, 11/25/2024 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index falling 1.7% and the Energy Select Sector SPDR Fund (XLE) dropping 1.9%.

The Philadelphia Oil Service Sector index was down 0.6%, and the Dow Jones US Utilities index was easing 0.2%.

Front-month West Texas Intermediate crude oil was declining 3.2% to $68.98 a barrel while the global benchmark Brent crude contract was dropping 2.8% to $73.05 a barrel. Henry Hub natural gas futures jumped 8.3% to $3.39 per 1 million BTU.

In corporate news, ONEOK ( OKE ) agreed to acquire the remaining shares of midstream energy services company EnLink Midstream ( ENLC ) in an all-stock deal worth $4.3 billion. ONEOK ( OKE ) shares sank 6.3% and EnLink shed 2.4%.