01:35 PM EDT, 04/07/2025 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index dropping 3.2% and the Energy Select Sector SPDR Fund (XLE) down 0.8%.

The Philadelphia Oil Service Sector index was up 0.4%, and the Dow Jones US Utilities index fell 1.3%.

Front-month West Texas Intermediate crude oil was declining 1.2% to $61.23 a barrel, and the global benchmark Brent crude contract was dropping 1.3% to $64.74 a barrel. Henry Hub natural gas futures fell 2.9% to $3.73 per 1 million BTU.

In corporate news, Shell (SHEL) shares fell 3.6%. The firm lowered its Q1 liquefied natural gas production outlook to 6.4 million to 6.8 million metric tons from 6.6 million to 7.2 million metric tons previously, citing weather impact and unplanned maintenance in Australia.