02:03 PM EDT, 10/07/2025 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.3% and the Energy Select Sector SPDR Fund (XLE) shedding 0.8%.

The Philadelphia Oil Service Sector Index was falling 1.2%, while the Dow Jones US Utilities Index rose 0.9%.

Front-month West Texas Intermediate crude oil declined 0.4% to $61.44 a barrel, and the global benchmark Brent crude contract shed 0.5% to $65.16 a barrel. Henry Hub natural gas futures rose 3% to $3.46 per 1 million BTU.

In corporate news, ONEOK ( OKE ) said late Monday a fire occurred in the heating system of its MB-4 fractionator, which is one of the facilities at its Mont Belvieu, Texas, fractionation complex. Separately, Scotiabank cut its price target on the stock to $88 from $92, while keeping its sector outperform rating. ONEOK ( OKE ) shares fell 0.9%.

Chevron ( CVX ) is working to restart some of the processing units that were closed because of a fire at its El Segundo refinery in California last week, Reuters reported Tuesday, citing the company. Chevron ( CVX ) shares were down 0.3%.

Shell (SHEL) said Tuesday it expects roughly $600 million in noncash post-tax impairments and provisions in Q3 due to the cancellation of its Rotterdam HEFA project in the Netherlands. Its shares were up 0.7%.