01:34 PM EDT, 04/04/2025 (MT Newswires) -- Energy stocks were slumping Friday afternoon, with the NYSE Energy Sector Index falling 7.8% and the Energy Select Sector SPDR Fund (XLE) dropping 7.9%.

The Philadelphia Oil Service Sector index tumbled 11%, and the Dow Jones US Utilities index fell 4.7%.

Front-month West Texas Intermediate crude oil fell 7.8% to $61.72 a barrel, and the global benchmark Brent crude contract was dropping 6.8% to $65.34 a barrel. Henry Hub natural gas futures fell 6.5% to $3.87 per 1 million BTU.

In corporate news, Duke Energy ( DUK ) said Friday it has restored power for over 98% of its customers affected by power outages in Indiana caused by Wednesday's storm. Its shares were falling 3.4%.