01:41 PM EST, 11/12/2025 (MT Newswires) -- Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index down 0.8% and the Energy Select Sector SPDR Fund (XLE) falling 1%.

The Philadelphia Oil Service Sector Index was dropping 2.9%, and the Dow Jones US Utilities Index edged up 0.1%.

In sector news, the Organization of the Petroleum Exporting Countries kept global oil demand growth estimates unchanged, while the cartel raised its liquids supply outlook for this year, according to a report released Wednesday.

Front-month West Texas Intermediate crude oil dropped 4.1% to $58.53 a barrel, and the global benchmark Brent crude contract slumped 3.7% to $62.75 a barrel. Henry Hub natural gas futures fell 1.5% to $4.50 per 1 million BTU.

In corporate news, Shell (SHEL) has agreed to divest a "substantial" portion of the Volta Media Network to Sydney-based electric vehicle charging and media firm Jolt. Shell shares were down 0.5%.