01:21 PM EST, 03/03/2025 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index decreasing 0.2% and the Energy Select Sector SPDR Fund (XLE) dropping 2.2%.

The Philadelphia Oil Service Sector index was falling 2.7%, and the Dow Jones US Utilities index was fractionally lower.

Front-month West Texas Intermediate crude oil was declining 0.5% to $69.41 a barrel while the global benchmark Brent crude contract was shedding 0.3% to $72.58 a barrel. Henry Hub natural gas futures jumped 6.1% to $4.07 per 1 million BTU.

In corporate news, Sunnova Energy International ( NOVA ) shares fell 69% after the company issued a "going concern" notice as part of its earnings.