01:28 PM EST, 02/06/2025 (MT Newswires) -- Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index falling 1% and the Energy Select Sector SPDR Fund (XLE) dropping 1.7%.

The Philadelphia Oil Service Sector index declined 3.1%, and the Dow Jones US Utilities index was down 0.1%.

Front-month West Texas Intermediate crude oil was shedding 0.3% to $70.82 a barrel while the global benchmark Brent crude contract was down 0.2% at $74.45 a barrel.

US natural gas stocks fell by 174 billion cubic feet in the week ended Jan. 31, below the smaller decrease of 171 billion expected in a survey compiled by Bloomberg and following a decrease of 321 billion cubic feet in the previous week.

Henry Hub natural gas futures rose 0.5% to $3.38 per 1 million BTU.

In corporate news, Altus Power ( AMPS ) shares jumped 28% after it said Thursday it has agreed to be bought by TPG (TPG) via its TPG Rise Climate Transition Infrastructure strategy for $5 per Class A common share in an all-cash deal that values Altus Power ( AMPS ) at about $2.2 billion, including outstanding debt.