03:55 PM EDT, 09/29/2025 (MT Newswires) -- Energy stocks declined late Monday afternoon, with the NYSE Energy Sector Index falling 2% and the Energy Select Sector SPDR Fund (XLE) dropping 2.1%.

The Philadelphia Oil Service Sector Index shed 1.8%, and the Dow Jones US Utilities Index added 0.3%.

West Texas Intermediate crude oil slumped 3.8% to $63.20 a barrel, and global benchmark Brent dropped 3.4% to $67.73 a barrel. Henry Hub natural gas futures rose 2% to $3.27 per 1 million BTU.

In corporate news, PG&E ( PCG ) shares rose 1% after it said in an investor presentation Monday that it plans to invest $73 billion in capex from 2026 to 2030.

TotalEnergies (TTE) expects net capital expenses to be $16 billion in 2026 and in the range of $15 billion to $17 billion from 2027 through 2030, down $1 billion per year from its prior outlook. The shares fell 2.2%.

BP (BP) shares were down 2.8% after it said Monday it approved the $5 billion Tiber-Guadalupe drilling project in the Gulf of Mexico.

American Resources ( AREC ) shares jumped 9% after it said Monday its ReElement Technologies unit signed a long-term offtake partnership with POSCO International America to boost US rare earth refining capacity.