01:36 PM EDT, 10/10/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index down 2.2% and the Energy Select Sector SPDR Fund (XLE) falling 2%.

The Philadelphia Oil Service Sector Index slumped 4.1%, while the Dow Jones US Utilities Index rose 0.3%.

Front-month West Texas Intermediate crude oil fell nearly 4% to $59.05 a barrel, and the global benchmark Brent crude contract dropped 3.6% to $62.90 a barrel. Henry Hub natural gas futures slumped 4.9% to $3.11 per 1 million BTU.

In corporate news, Venture Global ( VG ) losing an arbitration with BP (BP) unit BP Gas Marketing over a long-term liquified natural gas supply contract is "certainly" a negative outcome for the US LNG exporter, Deutsche Bank said in a Friday research note. Venture Global ( VG ) shares dropped 23%, and BP was down 2.3%.