03:26 PM EST, 01/31/2025 (MT Newswires) -- Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index dropping 2.5% and the Energy Select Sector SPDR Fund (XLE) falling 2.6%.

The Philadelphia Oil Service Sector index declined by 1.5%, and the Dow Jones US Utilities index shed 0.6%.

Front-month West Texas Intermediate crude oil fell 0.4% to $72.41 a barrel while the global benchmark Brent crude contract eased 0.1% to $76.76 a barrel. Henry Hub natural gas futures added 0.3% to $3.06 per 1 million BTU.

In corporate news, Borr Drilling ( BORR ) shares rose 1.4% after saying late Thursday it agreed to receive a $125 million payment settlement from an unnamed major Mexican customer for outstanding receivables.