01:31 PM EST, 12/02/2024 (MT Newswires) -- Energy stocks declined Monday afternoon with the NYSE Energy Sector Index falling 1.1% and the Energy Select Sector SPDR Fund (XLE) dropping 1.4%.

The Philadelphia Oil Service Sector index rose 0.2%, and the Dow Jones US Utilities index slid 1.7%.

West Texas Intermediate crude oil was little changed at $68.03 a barrel while global benchmark Brent crude contract eased 0.1% to $71.81 a barrel. Henry Hub natural gas future dropped 4.1% to $3.23 per 1 million BTU.

In corporate news, Duke Energy ( DUK ) shares shed 1.4% after the Duke Energy Progress unit reduced rates for residential customers in North Carolina by 4.5% as part of an annual fuel cost adjustment.

PG&E ( PCG ) shares tumbled 5.4%. The company launched simultaneous public offerings of $1.2 billion in shares and $1.2 billion in series A mandatory convertible preferred stock.

BW LPG ( BWLP ) reported Q3 earnings of $0.79 per diluted share, down from $0.85 a year earlier. The stock added 0.1%.