01:40 PM EDT, 06/25/2025 (MT Newswires) -- Energy stocks were softer Wednesday afternoon, with the NYSE Energy Sector Index down 0.1% and the Energy Select Sector SPDR Fund (XLE) 0.2% lower.

The Philadelphia Oil Service Sector index was falling 1.3%, and the Dow Jones US Utilities index dropped 0.9%.

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 was rising 2% to $65.66 a barrel, and the global benchmark Brent crude contract was advancing 1.4% to $67.11 a barrel. Henry Hub natural gas futures were 1.2% lower at $3.49 per 1 million BTU.

In corporate news, 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 0.6% and BP was adding 1.8%.

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 0.8%.

Robin Energy ( RBNE ) shares tumbled 19% 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.

Kolibri Global Energy ( KGEI ) shares rose 3.4% after the company said its Kolibri Energy US unit secured a 30% increase to its revolving credit facility, raising the total to $65 million. Kolibri also said it will be added to the Russell 2000 Index after the market opens on Friday.