Sector Update: Energy

01:26 PM EDT, 09/25/2026 (MT Newswires) -- Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.4%. The Philadelphia Oil Service Sector Index was decreasing 0.8%, and the Dow Jones US Utilities Index was down 0.3%. Oil prices fell after Iran floated a conditional proposal to reopen the Strait of Hormuz within seven days and resume talks over its nuclear program. Iranian Foreign Minister Abbas Araghchi said Tehran is willing to reopen the Strait of Hormuz, a key crude and energy chokepoint, and restart talks on its nuclear program if Washington accepts its conditions, CNBC reported Friday, citing Araghchi's remarks on the sidelines of the United Nations General Assembly. Front-month West Texas Intermediate crude oil fell 2.7% to $92.06 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $103.77 a barrel. Henry Hub natural gas futures slumped 4% to $3.17 per 1 million BTU. In corporate news, Petrobras (PBR) received a payment of 2.3 billion reais ($442.6 million) under Brazil's Diesel Economic Subvention program, the company said Friday. The latest installment covers the period from July 16 to July 31, and Petrobras said it has now cumulatively received 12.2 billion reais under diesel, gasoline, and LPG subsidy programs. Its shares were down 2.3%.