01:21 PM EDT, 05/14/2025 (MT Newswires) -- Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the Energy Select Sector SPDR Fund (XLE) down 0.7%.

The Philadelphia Oil Service Sector index rose 0.1%, and the Dow Jones US Utilities index shed 1%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 4 million barrels in the week ended May 9 following a decrease of 1.5 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rebounded by 3.5 million barrels after a 2-million-barrel decrease in the previous week, compared with the 2.2-million-barrel decrease expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil was declining 0.4% to $63.45 a barrel, and the global benchmark Brent crude contract was shedding 0.4% to $66.38 a barrel. Henry Hub natural gas futures fell 3.7% to $3.51 per 1 million BTU.

In corporate news, TotalEnergies (TTE) said Wednesday it signed a deal under which Norwegian investment firm HitecVision agreed to buy 50% of Polska Grupa Biogazowa for an enterprise value of 190 million euros ($211.7 million). TotalEnergies shares were down 1.1%.