01:30 PM EST, 01/31/2025 (MT Newswires) -- Energy stocks were declining Friday afternoon, with the NYSE Energy Sector Index dropping 1% and the Energy Select Sector SPDR Fund (XLE) falling 1.6%.

The Philadelphia Oil Service Sector index decreased 0.2%, and the Dow Jones US Utilities index shed 0.5%.

Front-month West Texas Intermediate crude oil was down 0.8% at $72.18 a barrel while the global benchmark Brent crude contract was easing 0.1% to $76.76 a barrel. Henry Hub natural gas futures were adding 0.1% to $3.05 per 1 million BTU.

In corporate news, Chevron's ( CVX ) Q4 revenue and oil production topped expectations but earnings missed Wall Street estimates. Its shares fell 3.6%.