03:44 PM EDT, 03/13/2025 (MT Newswires) -- Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the Energy Select Sector SPDR Fund (XLE) down 1%.

The Philadelphia Oil Service Sector index was shedding 1.7%, and the Dow Jones US Utilities index was adding 0.1%.

Front-month West Texas Intermediate crude oil declined 1.7% to $66.56 a barrel while the global benchmark Brent crude contract dropped 1.5% to $69.86 a barrel. Henry Hub natural gas futures shed 0.4% to $4.07 per 1 million BTU.

In sector news, US natural gas stocks fell 62 billion cubic feet in the week ended March 7, against the 49 billion fall seen in a Bloomberg survey and following a drop of 80 billion cubic feet in the previous week.

In corporate news, BP (BP) is looking to sell a 50% stake in its solar unit Lightsource bp, Reuters reported. BP is looking to sell half of the business for cash and a commitment of future investments, the report said. BP shares were adding 0.5%.

Sunnova Energy ( NOVA ) shares tumbled 17% after Citigroup downgraded the company's rating to neutral from buy.

Shell (SHEL) shipped a record 1.1 million tons of liquefied natural gas to fuel marine vessels last year, Bloomberg reported. Shell shares were adding 0.5%.

TXNM Energy ( TXNM ) said its subsidiary PNM and parties submitted an unopposed stipulation to New Mexico regulators to support a proposed resource plan adding solar and battery storage capacity in 2028. TXNM shares were down 0.7%.