03:48 PM EDT, 10/09/2025 (MT Newswires) -- Energy stocks declined late Thursday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) falling 1.2%.

The Philadelphia Oil Service Sector Index slipped 2.1%, and the Dow Jones US Utilities Index eased 0.1%.

West Texas Intermediate crude oil declined 2% to $61.31 a barrel, and global benchmark Brent retreated 1.9% to $65.01 a barrel. Henry Hub natural gas futures fell 2.4% to $3.25 per 1 million BTU.

US natural gas stocks rose by 80 billion cubic feet in the week ended Friday, below the 78 billion increase expected in a survey compiled by Bloomberg and following an increase of 53 billion in the previous week.

In corporate news, National Fuel Gas ( NFG ) shares fell 3.5% after Scotiabank downgraded the stock to sector perform from sector outperform.

BHP (BHP) faces a price standoff with China state-run iron ore buyer China Mineral Resources, which could stretch into early 2026, Bloomberg reported. BHP shares eased 0.2%.

Civitas Resources ( CIVI ) is in talks to merge with Permian Basin rival SM Energy ( SM ) , Bloomberg reported late Wednesday. Civitas shares dropped 4.1%, and SM Energy ( SM ) fell 2.8%.

Baytex Energy ( BTE ) is weighing a sale of its operations in the Eagle Ford shale of South Texas, Bloomberg reported. The Canadian oil and gas producer is working with advisers to gauge interest in the assets, which may be valued at up to $3 billion, the report said. Baytex shares rose 0.2%.