Sector Update: Energy Stocks Fall Late Afternoon

03:57 PM EDT, 09/25/2026 (MT Newswires) -- Energy stocks declined late Friday afternoon with the NYSE Energy Sector Index dropping 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) falling 0.8%. The Philadelphia Oil Service Sector Index shed 0.5%, and the Dow Jones US Utilities Index climbed 0.4%. 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. West Texas Intermediate crude oil dropped 2.1% to $92.62 a barrel, and global benchmark Brent declined 1.9% to $104.62 a barrel. Henry Hub natural gas futures slumped 4.1% to $3.16 per 1 million BTU. In corporate news, Gulfport Energy (GPOR) shares fell 4.4% after Jefferies downgraded its rating to hold from buy and cut its price target to $180 from $239. Petrobras (PBR) received a payment of 2.3 billion reais ($442.6 million) under Brazil's Diesel Economic Subvention program. The shares fell 2%. TotalEnergies (TTE) said Thursday its board unanimously backed its plans to propose renewing CEO Patrick Pouyanne's mandate at the May 2027 shareholders' meeting. The company said the board also decided to keep the roles of chairman and CEO combined. TotalEnergies shares fell 0.8%. Ormat Technologies (ORA) shares added 1.4% a day after the company secured up to $35 million in US Department of Energy funding to advance geothermal projects in Nevada and Utah.