04:00 PM EDT, 03/25/2026 (MT Newswires) -- Energy stocks were mixed late Wednesday afternoon, with the NYSE Energy Sector Index 0.1% higher and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.3%.

The Philadelphia Oil Service Sector Index added 0.7%, and the Dow Jones US Utilities Index rose 0.6%.

Front-month West Texas Intermediate crude oil fell 1.7% to $90.80 a barrel, and the global benchmark Brent crude contract dropped 1.7% to $102.68 a barrel. Henry Hub natural gas futures rose 0.8% to $2.97 per 1 million BTU.

In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 6.9 million barrels in the week ended March 20 following an increase of 6.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks increased by 6.9 million barrels after a 6.2 million barrel increase in the previous week, a larger gain than the 1.3-million-barrel fall expected in a Bloomberg survey.

In corporate news, ONEOK ( OKE ) shares rose 1.5% after Wells Fargo upgraded the stock to overweight from equalweight and boosted its price target to $100 from $81.

Valero Energy ( VLO ) is looking to restart its Port Arthur oil refinery in Texas this week after it was shut down on Tuesday due to an explosion, Reuters reported Wednesday. Valero shares fell 2.7%.

Chevron ( CVX ) may stop refining oil in California unless taxes and regulations are eased, Bloomberg reported. Chevron ( CVX ) shares were down 1%.

Energy Fuels ( UUUU ) shares climbed 3.1% after it said Wednesday it has produced its first kilogram of high-purity terbium oxide at its White Mesa Mill in Utah.