04:00 PM EST, 12/08/2025 (MT Newswires) -- Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index down 0.5% and the Energy Select Sector SPDR Fund (XLE) shedding 1.2%.

The Philadelphia Oil Service Sector Index was decreasing 0.8%, and the Dow Jones US Utilities Index was falling 1.2%.

Front-month West Texas Intermediate crude oil was declining 2.1% to $58.81 a barrel, and the global benchmark Brent crude contract was dropping 2.1% to $62.43 a barrel. Henry Hub natural gas futures fell 7.6% to $4.89 per 1 million BTU.

In corporate news, Occidental Petroleum ( OXY ) shares fell 2.4% after JPMorgan downgraded the stock to underweight from neutral and adjusted its price target to $44 from $51.

Exxon Mobil ( XOM ) and NextEra Energy's ( NEE ) Energy Resources unit are collaborating to develop carbon-abated, gas-fired power generation projects to serve large electricity loads, NextEra Energy ( NEE ) said in its presentation to investors Monday. Exxon shares were down 0.5%, and NextEra was falling 3%.

Shell (SHEL) could take a 60% stake in PetroSA's Block 2C offshore South Africa under a deal with the South African oil company, Reuters reported Monday. Shell shares were up 0.4%.

Antero Resources ( AR ) said Monday it agreed to buy HG Energy II's upstream assets, while Antero Midstream ( AM ) will acquire the privately-held company's midstream assets, in separate cash deals totaling $3.9 billion. Antero Resources ( AR ) and Antero Midstream ( AM ) shares rose 1.6% and 1.1%, respectively.