01:28 PM EST, 02/21/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index falling 1.1% and the Energy Select Sector SPDR Fund (XLE) dropping 1.5%.

The Philadelphia Oil Service Sector index fell 3%, and the Dow Jones US Utilities index was down 0.2%.

Front-month West Texas Intermediate crude oil was declining 1.5% to $70.94 a barrel while the global benchmark Brent crude contract was dropping 2% to $74.95 a barrel. Henry Hub natural gas futures jumped 3.6% to $4.30 per 1 million BTU.

In corporate news, ConocoPhillips ( COP ) said it signed a deal to sell its interests in the Ursa and Europa Fields and Ursa Oil Pipeline Company to Shell's (SHEL) subsidiaries for $735 million. ConocoPhillips ( COP ) was falling 2.5%, and Shell was down 2.3%.