03:35 PM EDT, 04/07/2025 (MT Newswires) -- Energy stocks fell late Monday afternoon with the NYSE Energy Sector Index dropping 2.4% and the Energy Select Sector SPDR Fund (XLE) falling 1%.

The Philadelphia Oil Service Sector Index dropped 0.7%, and the Dow Jones US Utilities Index declined 1.6%.

West Texas Intermediate crude oil fell 1.7% to $60.93 a barrel, and global benchmark Brent dropped 1.7% to $64.45 a barrel. Henry Hub natural gas futures slumped 5.5% to $3.73 per 1 million BTU.

In corporate news, SUNation Energy ( SUNE ) shares slumped 77%. The company closed the final tranche of its sale of almost 4.35 million shares and related warrants to some institutional investors, raising $5 million.