03:29 PM EST, 12/02/2024 (MT Newswires) -- Energy stocks declined late Monday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each falling 1%.

The Philadelphia Oil Service Sector index rose 0.3%, and the Dow Jones US Utilities index was sliding 1.6%.

West Texas Intermediate crude oil was up 0.1% to $68.05 a barrel while the global benchmark Brent crude contract eased 0.1% to $71.81 a barrel. Henry Hub natural gas futures dropped 4.7% to $3.20 per 1 million BTU.

In corporate news, Xcel Energy ( XEL ) said Monday it launched cash tender offers to buy up to $110 million of outstanding first mortgage bonds issued by its subsidiary Northern States Power. Its shares were shedding 1.4%.