01:19 PM EDT, 05/29/2026 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1%.

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

Front-month West Texas Intermediate crude oil fell 2.3% to $86.83 a barrel, and the global benchmark Brent crude contract dropped 1.9% to $91.94 a barrel. Henry Hub natural gas futures climbed 5% to $3.04 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) is projecting oil prices to shoot up once again in the coming weeks when inventories reach record low levels, the company's senior vice president Neil Chapman said Thursday, according to a FactSet transcript. Exxon shares were down 0.8%.