01:15 PM EDT, 05/22/2025 (MT Newswires) -- Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the Energy Select Sector SPDR Fund (XLE) shedding 0.8%.

The Philadelphia Oil Service Sector index was down 0.9%, and the Dow Jones US Utilities index was dropping 1.8%.

Front-month West Texas Intermediate crude oil was declining 0.6% to $61.22 a barrel, and the global benchmark Brent crude contract was shedding 0.8% to $64.41 a barrel. Henry Hub natural gas futures were falling 3.4% to $3.25 per 1 million BTU.

In sector news, Deutsche Bank (DB) will pause a plan to add new restrictions on financing oil and gas firms as it evaluates legal risks, Bloomberg reported Thursday, citing Chief Executive Christian Sewing.

In corporate news, shares of solar companies were falling Thursday after a tax bill that passed the US House includes cuts to key clean energy credits, according to media reports. SunRun ( RUN ) , Enphase (ENPH), SolarEdge ( SEDG ) , and First Solar ( FSLR ) shares dropped 40%, 19%, 25% and 5.2%, respectively.