10:23 AM EST, 01/31/2025 (MT Newswires) -- Energy stocks were retreating in early morning trading Friday with the Energy Select Sector SPDR Fund ( XLE ) 2.3% lower recently.

The United States Oil Fund ( USO ) was 0.9% lower and the United States Natural Gas Fund ( UNG ) was down 1.4%.

Front-month US West Texas Intermediate crude oil was down 0.7% at $72.21 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.3% to $76.62 per barrel, and natural gas futures were down 1% at $3.02 per 1 million British Thermal Units.

Chevron ( CVX ) shares fell 4.5% after it reported lower Q4 adjusted earnings and higher revenue. The company called the Gulf of Mexico the "Gulf of America" in its Q4 earnings release, after US President Donald Trump ordered the name change last week.

Imperial Oil ( IMO ) reported lower Q4 earnings and revenue and raised its quarterly dividend. The company's shares were down 2.4%.

Southern Company's ( SO ) Georgia Power unit said Friday that it filed its integrated resource plan for this year, outlining its plan for clients' energy requirements, with the Georgia Public Service Commission. The company's shares fell 1%.