01:12 PM EDT, 09/05/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index falling 1.6% and the Energy Select Sector SPDR Fund (XLE) dropping 1.9%.

The Philadelphia Oil Service Sector index was decreasing 0.6%, and the Dow Jones US Utilities index was easing 0.7%.

Front-month West Texas Intermediate crude oil was declining 2.7% to $61.76 a barrel, and the global benchmark Brent crude contract was dropping 2.4% to $65.37 a barrel. Henry Hub natural gas futures were 0.4% lower at $3.06 per 1 million BTU.

In corporate news, Halliburton ( HAL ) has been downsizing its workforce in recent weeks as the US oil sector faces rising costs and lower prices, Reuters reported. Halliburton ( HAL ) shares were down 0.4%.