03:19 PM EST, 12/06/2024 (MT Newswires) -- Energy stocks fell late Friday afternoon, with the NYSE Energy Sector Index dropping 1.8% and the Energy Select Sector SPDR Fund (XLE) sliding 1.5%.

The Philadelphia Oil Service Sector index slumped 3.5%, and the Dow Jones US Utilities index was shedding 1.2%.

Front-month West Texas Intermediate crude oil declined 1.7% to $67.11 a barrel while the global benchmark Brent crude contract dropped 1.5% to $71.02 a barrel. Henry Hub natural gas futures were adding 0.2% to $3.09 per 1 million BTU.

In corporate news, Energy Transfer ( ET ) said Friday it has made a final investment decision to build a $2.7 billion intrastate pipeline that will carry natural gas from the Permian Basin to key markets and trading hubs. Its shares rose 1.1%.