03:30 PM EDT, 06/23/2025 (MT Newswires) -- Energy stocks fell late Monday afternoon with the NYSE Energy Sector Index declining 2.3% and the Energy Select Sector SPDR Fund (XLE) dropping 2.6%.

The Philadelphia Oil Service Sector Index slumped 4.4%, and the Dow Jones US Utilities Index rose 1.1%.

West Texas Intermediate crude and Brent prices tumbled. Qatar said its air defense systems intercepted Iranian missiles fired at the Al Udeid Air Base, the largest US military installation in the Middle East, according to news reports.

WTI declined 7.1% to $68.58 a barrel, and global benchmark Brent dropped 6.8% to $71.74 a barrel. Henry Hub natural gas futures fell 3.7% to $3.71 per 1 million BTU.

In corporate news, Oklo ( OKLO ) shares dropped 6% after Craig-Hallum downgraded the stock to hold from buy.