03:42 PM EDT, 04/29/2025 (MT Newswires) -- Energy stocks fell late Tuesday afternoon with the NYSE Energy Sector Index decreasing 0.4% and the Energy Select Sector SPDR Fund (XLE) easing 0.2%.

The Philadelphia Oil Service Sector index and the Dow Jones US Utilities index both added 0.7%.

West Texas Intermediate crude oil fell 2.8% to $60.33 a barrel, and global benchmark Brent contract dropped 2.5% to $64.19 a barrel. Henry Hub natural gas futures rose 0.6% to $3.36 per 1 million BTU.

In corporate news, Eletrobras (EBR) shareholders approved a plan to settle a legal fight over the Brazilian government's voting rights in the company, Reuters reported. The government will be allowed to appoint three of the company's 10 board members, the report said. Eletrobras shares rose 0.9%.

BP's (BP) executive vice president for strategy and sustainability, Giulia Chierchia, will step down on June 1 following pressure from activist investor Elliott Investment Management, according to media reports. BP also reported lower Q1 underlying replacement cost profit and sales and other operating revenue. BP shares were falling 3.1%.

Woodside Energy (WDS) shares rose 0.5% after the company said Tuesday that it will invest in a three-train Louisiana LNG development with an annual capacity of 16.5 million metric tons.

Petrobras (PBR) President Magda Chambriard on Monday invited Chinese investors to visit Brazilian shipyards and explore opportunities for partnership in the oil and gas sector. Petrobras shares added 0.3%.

http://www.mtnewswires.com
Copyright © 2025 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.