04:07 PM EST, 12/02/2025 (MT Newswires) -- Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index decreasing 1% and the Energy Select Sector SPDR Fund (XLE) down 1.3%.

The Philadelphia Oil Service Sector Index was fractionally higher, and the Dow Jones US Utilities Index eased 0.7%.

Front-month West Texas Intermediate crude oil declined 1.2% to $58.64 a barrel, and the global benchmark Brent crude contract shed 1.2% to $62.43 a barrel. Henry Hub natural gas futures fell 1.9% to $4.83 per 1 million BTU.

In corporate news, Shell (SHEL) said Tuesday that it has signed a long-term offtake agreement with Green Sky Capital to buy the entire output of sustainable aviation fuel from Egypt's first planned commercial-scale SAF production facility. Shell shares were down 0.5%.

ONE Gas ( OGS ) shares were down 2.4%. The company said late Monday it expects 2026 earnings of $4.65 to $4.77 per diluted share. ONE Gas ( OGS ) expects about $800 million in capital investments in 2026. For the five years through 2030, total capital investments are projected at about $4.30 billion.

Exxon Mobil ( XOM ) has approached Iraq's oil ministry to express interest in acquiring Lukoil's majority stake in the West Qurna 2 oilfield, Reuters reported. Exxon shares decreased 0.9%.

TotalEnergies (TTE) is the leading bidder for a stake in Galp's major oil discovery offshore Namibia, Bloomberg reported. Galp is planning to sell half of its 80% stake in the Mopane field to a partner that would also become the project's operator, the report said. Separately, TotalEnergies said its partners in the Mozambique LNG project have agreed to provide additional equity to replace the contributions of UK Export Finance and Atradius. TotalEnergies shares were fractionally higher.