03:43 PM EDT, 06/24/2025 (MT Newswires) -- Energy stocks declined late Tuesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each falling 1.3%.

The Philadelphia Oil Service Sector index eased 0.1%, while the Dow Jones US Utilities index rose 0.5%.

In sector news, President Donald Trump confirmed that Israel would refrain from new strikes on Iran, reinforcing confidence that the ceasefire he has brokered would hold. "ISRAEL is not going to attack Iran," Trump said in a message on Truth Social. "All planes will turn around and head home, while doing a friendly 'Plane Wave' to Iran. Nobody will be hurt, the Ceasefire is in effect!"

Front-month West Texas Intermediate crude oil dropped 5.8% to $64.54 a barrel, and the global benchmark Brent crude contract fell 5.8% to $67.34 a barrel. Henry Hub natural gas futures were 4.3% lower at $3.54 per 1 million BTU.

In corporate news, SM Energy ( SM ) shares were falling 1.9% after Raymond James downgraded the company's stock to underperform from outperform.

IsoEnergy ( ISOU ) shares added 0.7% after saying Tuesday that it raised 51.2 million Canadian dollars ($37.4 million) via a bought deal offering of 5.1 million shares at CA$10 each. The company said NexGen Energy ( NXE ) , which already held a stake in IsoEnergy ( ISOU ), bought 1.2 million shares in the offering and now owns 30.9% of the company. NexGen Energy ( NXE ) shares rose 1.7%.

Vital Energy ( VTLE ) shares retreated past 6% after Raymond James downgraded the company to underperform from outperform.

Houston American Energy ( HUSA ) shares tumbled 32% after it said Tuesday it signed an agreement with an institutional investor to sell 81,629 common shares at $14.80 apiece, totaling about $1.2 million, via a registered direct offering.

Cheniere Energy (LNG) said its board has decided to proceed with the Corpus Christi midscale trains 8 and 9 debottlenecking project. Cheniere shares rose 3.6%.

XCF Global ( SAFX ) has rolled out an international expansion framework aiming to accelerate the adoption of synthetic aviation fuel through regionally tailored partnerships. Its shares popped 4.2%.