01:41 PM EDT, 09/05/2025 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index falling 1.6% and the Energy Select Sector SPDR Fund (XLE) dropping 2.3%.

The Philadelphia Oil Service Sector index was decreasing 1%, and the Dow Jones US Utilities index was easing 0.4%.

Front-month West Texas Intermediate crude oil was declining 2.8% to $61.72 a barrel, and the global benchmark Brent crude contract was dropping 2.5% to $65.33 a barrel. Henry Hub natural gas futures were 0.4% lower at $3.06 per 1 million BTU.

In corporate news, Halliburton ( HAL ) has been downsizing its workforce in recent weeks as the US oil sector faces rising costs and lower prices, Reuters reported. Halliburton ( HAL ) shares were down 1.2%.

Sunoco ( SUN ) shares shed 1.1% after the company said late Thursday it priced at 100% a $1 billion private offering of 5.625% senior notes due 2031, and $900 million of 5.875% senior notes due 2034.

Jefferies downgraded NiSource ( NI ) to hold from buy, and cut the price target to $44 from $48. Shares were up 1% recently.