01:48 PM EDT, 06/24/2025 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index shedding 1.2% and the Energy Select Sector SPDR Fund (XLE) falling 1.1%.

The Philadelphia Oil Service Sector index was down 0.3%, while the Dow Jones US Utilities index rose 0.5%.

Front-month West Texas Intermediate crude oil dropped 5.7% to $64.64 a barrel, and the global benchmark Brent crude contract fell 5.6% to $67.46 a barrel. Henry Hub natural gas futures were 4.1% lower at $3.55 per 1 million BTU.

In corporate news, 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 2.9%.

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 gained 2.2%.