01:53 PM EDT, 08/12/2026 (MT Newswires) -- Energy stocks were mixed Wednesday afternoon, with the NYSE Energy Sector Index 0.1% higher and the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.

The Philadelphia Oil Service Sector Index was easing 0.2%, and the Dow Jones US Utilities Index increased 0.2%.

In geopolitical news, a raft of top military appointments by Iran's Supreme Leader Mojtaba Khamenei marks a shift to an "offensive doctrine," Mohammad Reza Naqdi, a general in the Islamic Revolutionary Guard Corps who advises the force's new commander, said in an interview on state TV late Tuesday, according to a Bloomberg report.

Front-month West Texas Intermediate crude oil shed 0.4% to $82.90 a barrel, and the global benchmark Brent crude contract fell 0.5% to $88.47 a barrel. Henry Hub natural gas futures rose 1.1% to $2.80 per 1 million BTU.

In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 11.3 million barrels in the week ended Aug. 7 following a decrease of 400,000 barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 17.4 million barrels after a 2.5-million-barrel increase in the previous week, compared with the 1.8-million-barrel decrease expected in a Bloomberg survey.

The Organization of the Petroleum Exporting Countries lowered its global oil demand growth outlook for 2026 on Wednesday, while projecting a stronger rebound for next year than previously estimated. The cartel now expects oil consumption this year to rise by 580,000 barrels a day this year, down from its previous month's outlook for an increase of 780,000 barrels and marking its fourth consecutive downward revision. For 2027, OPEC now forecasts world oil demand to increase by 2.16 million barrels a day, compared with a gain of 1.94 million barrels projected in July.

The International Energy Agency on Wednesday projected a larger decline in global oil demand this year than previously estimated as the continued closure of the Strait of Hormuz weighs on consumption. Oil consumption is now forecast to decline by 1.6 million barrels a day in 2026, about 510,000 barrels more than the agency's prior estimate, it said in its latest monthly oil market report.

In corporate news, Energy Fuels ( UUUU ) said shareholders of Australian Strategic Materials approved Energy Fuels' ( UUUU ) planned acquisition of the company at meetings held in Perth, Australia. Shares were down 1.4%.

Borr Drilling ( BORR ) shares fell 3%. The firm reported that it swung to a Q2 loss as revenue declined during the period.

TechnipFMC ( FTI ) won a contract valued at $75 million to $250 million to supply flexible flowlines and risers for Azule Energy's West Hub Tails project offshore Angola. Shares were up 0.7%.

Edison International's ( EIX ) Southern California Edison was not found legally responsible for a 2025 Los Angeles-area wildfire after a California state judge declined to rule without a trial, Bloomberg reported Tuesday. Shares were shedding 1.7%.