01:24 PM EDT, 04/29/2025 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the Energy Select Sector SPDR Fund (XLE) down 0.5%.

The Philadelphia Oil Service Sector index rose 0.2%, and the Dow Jones US Utilities index added 0.5%.

Front-month West Texas Intermediate crude oil was falling 2.8% to $60.33 a barrel, and the global benchmark Brent crude contract was dropping 2.8% to $64.00 a barrel. Henry Hub natural gas futures rose 0.4% to $3.36 per 1 million BTU.

In corporate news, BP (BP) said Tuesday its executive vice president for strategy and sustainability, Giulia Chierchia, will step down on June 1 following pressure from activist investor Elliott Investment Management, according to media reports. BP also reported lower Q1 underlying replacement cost profit and sales and other operating revenue. BP shares were falling 2.9%.