01:19 PM EST, 12/02/2024 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index falling 1.1% and the Energy Select Sector SPDR Fund (XLE) dropping 1.4%.

The Philadelphia Oil Service Sector index was up 0.2%, and the Dow Jones US Utilities index was sliding 1.6%.

Front-month West Texas Intermediate crude oil was fractionally higher at $68.03 a barrel while the global benchmark Brent crude contract was down 0.1% to $71.81 a barrel. Henry Hub natural gas futures were dropping 4.1% to $3.23 per 1 million BTU.

In corporate news, Duke Energy ( DUK ) shares were shedding 1.4% after it said Monday that its Duke Energy Progress unit has reduced rates for residential customers in North Carolina by 4.5% as part of its annual fuel cost adjustment.