01:31 PM EDT, 03/27/2025 (MT Newswires) -- Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index down 0.4% and the Energy Select Sector SPDR Fund (XLE) shedding 0.9%.

The Philadelphia Oil Service Sector index fell 0.9%, and the Dow Jones US Utilities index was up 0.1%.

Front-month West Texas Intermediate crude oil was rising 0.1% to $69.70 a barrel, and the global benchmark Brent crude contract was fractionally lower at $73.76 a barrel.

US natural gas stocks rose by 37 billion cubic feet in the week ended March 21, larger than the 33 billion increase expected in a survey compiled by Bloomberg and following an increase of 9 billion cubic feet in the previous week.

Henry Hub natural gas futures were 0.7% higher at $3.89 per 1 million BTU.

In sector news, the Trump administration has asked oil and biofuel groups to discuss and work together on a new biofuel policy, Reuters reported.

In corporate news, TotalEnergies (TTE) and its partners Equinor ( EQNR ) and Shell (SHEL) approved an investment of 7.5 billion Norwegian kroner ($715.1 million) for the second phase of the Northern Lights carbon capture and storage project in Norway. TotalEnergies shares added 0.6%, Equinor ( EQNR ) was up 0.7% and Shell rose 1%.