03:22 PM EDT, 08/03/2026 (MT Newswires) -- Energy stocks declined late Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.6%.

The Philadelphia Oil Service Sector Index was down 1.5%, and the Dow Jones US Utilities Index was easing 0.2%.

Front-month West Texas Intermediate crude oil fell 5.1% to $80.34 a barrel, and the global benchmark Brent crude contract dropped 4.5% to $83.98 a barrel. Henry Hub natural gas futures rose 1% to $2.77 per 1 million BTU.

In corporate news, President Donald Trump said Exxon Mobil (XOM) and Chevron ( CVX ) are making "too much money" and that "they better cut the retail price," Bloomberg reported Monday, citing comments made by him at the White House. Exxon shares were down 0.6%, and Chevron ( CVX ) was falling 2.1%.