03:35 PM EST, 02/25/2025 (MT Newswires) -- Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 1% and the Energy Select Sector SPDR Fund (XLE) dropping 1.1%.

The Philadelphia Oil Service Sector index retreated 1.4%, and the Dow Jones US Utilities index shed 0.8%.

West Texas Intermediate crude oil fell 2.4% to $69.04 a barrel, and global benchmark Brent dropped 2.2% to $73.11 a barrel. Henry Hub natural gas futures rose 3.5% to $4.134 per 1 million BTU.

In corporate news, Diamondback Energy ( FANG ) may establish a joint venture to provide electricity for its Permian Basin operations and data centers in West Texas. The shares fell 1.3%.

Sempra ( SRE ) shares tumbled 19% after the company reported Q4 earnings and revenue that missed analyst estimates while cutting its 2025 EPS guidance.

BP (BP) may sell its lubricants business and maintain oil and gas production in a strategy shift after pressure from activist investor Elliott Investment Management, Bloomberg reported. BP shares shed 1%.

Civitas Resources ( CIVI ) shares slumped 17% after the company reported Q4 results that missed estimates, and KeyBanc downgraded the stock to sector weight from overweight.