01:38 PM EST, 01/23/2025 (MT Newswires) -- Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.4%.

The Philadelphia Oil Service Sector index was shedding 0.2%, and the Dow Jones US Utilities index was rising 1%.

Crude oil futures fell Thursday after President Donald Trump said he will ask Saudi Arabia and the Organization of the Petroleum Exporting Countries to lower prices.

Front-month West Texas Intermediate crude oil was declining 1.1% to $74.58 a barrel while the global benchmark Brent crude contract was down 0.9% at $78.28 a barrel. Henry Hub natural gas futures were 1.3% lower at $3.91 per 1 million BTU.

In corporate news, Schlumberger ( SLB ) said Thursday that its SLB Capturi unit has commissioned its modular carbon capture plant at Twence's waste-to-energy facility in Hengelo, Netherlands. Schlumberger ( SLB ) shares were rising 0.8%.