01:40 PM EDT, 05/20/2026 (MT Newswires) -- Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.1%.

The Philadelphia Oil Service Sector Index was increasing 0.03%, and the Dow Jones US Utilities Index added 0.6%.

Front-month West Texas Intermediate crude oil was declining 0.8% to $107.77 a barrel, and the global benchmark Brent crude contract was dropping 6.9% to $104.41 a barrel. Henry Hub natural gas futures fell 3.3% to $3.01 per 1 million BTU.

In corporate news, BP (BP) said Wednesday the United Steelworkers, or USW, Local 7-1 has agreed to the company's request to resume negotiations on Friday over Whiting Refinery. BP shares were down 1.8%.