03:44 PM EDT, 07/19/2024 (MT Newswires) -- Energy stocks were retreating late Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) falling 1%.

The Philadelphia Oil Service Sector Index was posting a 1.3% drop, and the Dow Jones US Utilities Index was fractionally higher.

Front-month West Texas Intermediate crude oil fell 3.2% to $80.18 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $82.81 a barrel. Henry Hub natural gas futures rose 0.2% to $2.13 per 1 million BTU.

In corporate news, Ecopetrol ( EC ) shares eased 0.5% as it said Friday it's having talks with Occidental Petroleum ( OXY ) over the potential acquisition of a stake in assets owned by CrownRock. Occidental shares were falling 0.9%.

Schlumberger ( SLB ) reported stronger-than-expected results for Q2, aided by double-digit revenue growth in key international markets. Its shares were adding 1.8%.

Hawaiian Electric Industries ( HE ) shares surged nearly 37% in recent trading Friday, a day after Bloomberg reported that the company was among a group of firms that reached a tentative deal to settle lawsuits over last year's wildfires in Maui.

New Fortress Energy ( NFE ) shares jumped 5% after it said Friday it has achieved First LNG for its initial Fast LNG facility in offshore Altamira, Mexico.