01:54 PM EDT, 07/19/2024 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.7% and the Energy Select Sector SPDR Fund (XLE) down 0.6%.

The Philadelphia Oil Service Sector index was posting a 0.7% decline, and the Dow Jones US Utilities index was shedding 0.3%.

Front-month West Texas Intermediate crude oil was declining 3% to $80.31 a barrel, and the global benchmark Brent crude contract was falling 2.7% to $82.81 a barrel. Henry Hub natural gas futures were 0.9% lower at $2.11 per 1 million BTU.

In corporate news, Schlumberger ( SLB ) reported stronger-than-expected results for Q2, aided by double-digit revenue growth in key international markets. Its shares were up 2.1%.

Hawaiian Electric Industries ( HE ) shares surged 34.6% in recent trading Friday, a day after Bloomberg reported that the company was among a group of firms that reached a tentative deal to settle lawsuits over last year's wildfires in Maui.

New Fortress Energy ( NFE ) shares jumped 6.1% after it said Friday it has achieved First LNG for its initial Fast LNG facility in offshore Altamira, Mexico.