Sector Update: Energy Stocks Decline Thursday Afternoon

01:58 PM EDT, 09/03/2026 (MT Newswires) -- Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index down 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) slipping 0.2%. The Philadelphia Oil Service Sector Index was falling 1.6%, and the Dow Jones US Utilities Index added 0.9%. In geopolitical news, the US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported. Front-month West Texas Intermediate crude oil rose 0.4% to $91.37 a barrel, and the global benchmark Brent crude contract slid 0.2% to $95.43 a barrel. Henry Hub natural gas futures shed 1.5% to $2.92 per 1 million BTU. US natural gas stocks rose by 30 billion cubic feet in the week ended Aug. 28, smaller than the 31 billion gain expected in a survey compiled by Bloomberg and following an increase of 15 billion cubic feet in the previous week. In corporate news, Diversified Energy (DEC) has agreed to buy Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares gained 3.8%. BP (BP) has drawn interest from UK energy firm EnQuest regarding a potential purchase of its UK North Sea oil and gas operations, CNBC reported, citing an interview with EnQuest CEO Amjad Bseisu. BP shares were down 0.4%. GeoPark (GPRK) said it has made a strategic entry into Venezuela via the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt. GeoPark shares rose 2.5%.