01:38 PM EDT, 06/21/2024 (MT Newswires) -- Energy stocks fell Friday afternoon with the NYSE Energy Sector Index decreasing 0.3% and the Energy Select Sector SPDR Fund (XLE) down 0.2%.

The Philadelphia Oil Service Sector index dropped 0.7%, and the Dow Jones US Utilities index eased 0.2%.

West Texas Intermediate crude oil declined 1% to $80.49 a barrel, while global benchmark Brent crude dropped 0.8% to $84.99 a barrel.

US natural gas stocks rose 71 billion cubic feet in the week ended June 14, larger than the 69 billion increase expected in a survey compiled by Bloomberg and following an increase of 74 billion in the previous week. Stocks at 3.045 trillion were 12.7% higher than a week earlier and 22.6% above the 5-year average.

Henry Hub natural gas futures fell 1.4% lower at $2.70 per 1 million BTU.

In corporate news, TotalEnergies (TTE) said as a shareholder of Offshore Wind One, it has been awarded maritime concession N-11.2 covering 156 square kilometers in the North Sea by the German Federal Network Agency, allowing the development of a 3.5 GW offshore wind hub. TotalEnergies shares dropped 1%.

Plug Power (PLUG) secured an order for 25 megawatts of proton exchange membrane electrolyzer systems for a European customer. The shares dropped 2.2%.

Kosmos Energy (KOS) filed a shelf registration statement with the US Securities and Exchange Commission covering the potential sale of its securities in one or more offerings. Kosmos shares shed 0.3%.