03:35 PM EDT, 07/15/2025 (MT Newswires) -- Energy stocks retreated late Tuesday afternoon, with the NYSE Energy Sector Index decreasing 1.1% and the Energy Select Sector SPDR Fund (XLE) falling 1.4%.

The Philadelphia Oil Service Sector Index dropped 2.8%, and the Dow Jones US Utilities Index shed 0.6%.

OPEC maintained its global oil demand and economic growth projections for 2025 and 2026, while saying world expansion in H2 may be better than expected. The cartel continues to expect oil demand to grow by 1.29 million barrels a day this year and by 1.28 million barrels next year.

West Texas Intermediate crude oil fell 0.5% to $66.67 a barrel, and global benchmark Brent shed 0.6% to $68.83 a barrel. Henry Hub natural gas futures rose 1.7% to $3.53 per 1 million BTU.

In sector news, Blackstone (BX) said Tuesday that funds managed by Blackstone Infrastructure and Blackstone Real Estate plan to invest more than $25 billion to support the development of Pennsylvania's digital and energy infrastructure, targeting to build up the state as a strategic hub for AI.

In corporate news, the US Federal Trade Commission denied Pioneer Natural Resources founder Scott Sheffield's request to reopen and cancel a final consent order for Exxon Mobil's ( XOM ) acquisition of Pioneer, the FTC said Tuesday. Exxon shares were down 0.9%.

PG&E ( PCG ) said Tuesday it submitted a report to the California Public Utilities Commission highlighting that the company achieved a 42% reduction in methane emissions in 2024 from its gas pipeline system compared with a 2015 baseline. Its shares were falling 2.5%.

MP Materials ( MP ) shares jumped 22% after Apple (AAPL) agreed to buy rare earth magnets from the company under a $500-million multiyear partnership deal.

Southern's (SO) subsidiary Georgia Power said its 2025 integrated resource plan won approval from the Georgia Public Service Commission. Southern shares eased 0.1%.