02:03 PM EDT, 10/10/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index down 1.8% and the Energy Select Sector SPDR Fund (XLE) falling 2%.

The Philadelphia Oil Service Sector Index slumped 4.1%, while the Dow Jones US Utilities Index rose 0.2%.

Front-month West Texas Intermediate crude oil fell 4.1% to $59.00 a barrel, and the global benchmark Brent crude contract dropped 3.7% to $62.80 a barrel. Henry Hub natural gas futures slumped 5% to $3.11 per 1 million BTU.

In corporate news, Venture Global ( VG ) losing an arbitration with BP (BP) unit BP Gas Marketing over a long-term liquified natural gas supply contract is "certainly" a negative outcome for the US LNG exporter, Deutsche Bank said in a Friday research note. Venture Global ( VG ) shares dropped 24%, and BP was down 1.6%.

The US Bureau of Land Management has cancelled the Esmeralda Seven Solar Farm Project, which includes developers NextEra Energy ( NEE ) , according to an update on its website. NextEra shares were fractionally lower.

Mosaic (MOS) shares fell 8% after it said its preliminary Q3 phosphate production fell short of expectations because of "unexpected mechanical issues" at its Riverview sulfuric acid plant and utility interruptions at Bartow in September.