01:52 PM EST, 01/27/2025 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index falling 1.2% and the Energy Select Sector SPDR Fund (XLE) dropping 1.5%.

The Philadelphia Oil Service Sector index fell 1.5%, and the Dow Jones US Utilities index slumped 3.1%.

Front-month West Texas Intermediate crude oil was falling 2.3% to $72.97 a barrel while the global benchmark Brent crude contract was dropping 2.1% to $76.87 a barrel. Henry Hub natural gas futures tumbled 9.6% to $3.64 per 1 million BTU.

In corporate news, Diversified Energy ( DEC ) shares gained 2.5% after the company said it has agreed to buy Maverick Natural Resources, an EIG portfolio company, for about $1.28 billion.