03:56 PM EDT, 06/25/2025 (MT Newswires) -- Energy stocks were softer late Wednesday afternoon, with the NYSE Energy Sector Index down 0.1% and the Energy Select Sector SPDR Fund (XLE) easing 0.3%.

The Philadelphia Oil Service Sector index was falling 1.2%, and the Dow Jones US Utilities index dropped 1.4%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 5.6 million barrels in the week ended June 20, following a decrease of 11.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 5.8 million barrels after an 11.5-million-barrel drop in the previous week, a larger drop than the 1.1-million-barrel decrease expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil rose 1.4% to $65.26 a barrel, and the global benchmark Brent crude contract advanced 1.2% to $67.96 a barrel. Henry Hub natural gas futures were 4.2% lower at $3.39 per 1 million BTU.

In corporate news, WEC Energy ( WEC ) said Wednesday that it plans to extend the operating lives of units 7 and 8 at the Oak Creek Power Plant in Oak Creek, Wisconsin, and expects to have the units available to meet higher energy demand periods through the end of 2026. WEC shares were down 2.3%.

ProFrac ( ACDC ) shares dropped 4.3% after BofA Securities downgraded the stock to underperform from neutral.

Shell (SHEL) denied a report by The Wall Street Journal that it is in early talks to acquire BP (BP), Bloomberg reported Wednesday, citing a Shell spokesperson. Shell shares were down 0.7% and BP was adding 1.6%.

Constellation Energy ( CEG ) may restart the Three Mile Island nuclear power plant in Pennsylvania in 2027, a year ahead of its 2028 target, news outlets reported Wednesday, citing company executives. Constellation shares were shedding 1.7%.

Robin Energy ( RBNE ) shares tumbled 24% after it said Wednesday it has priced its registered direct offering of about 1 million shares at $3.50 per share, for expected gross proceeds of about $3.6 million.