01:15 PM EDT, 04/09/2024 (MT Newswires) -- Energy stocks were easing Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.3% and the Energy Select Sector SPDR Fund (XLE) down 0.5%.

The Philadelphia Oil Service Sector index was decreasing 0.8%, while the Dow Jones US Utilities index was fractionally higher.

Front-month West Texas Intermediate crude oil was declining 1.5% to $85.13 a barrel while the global benchmark Brent crude contract was dropping 1.2% to $89.32 a barrel. Henry Hub natural gas futures were 0.7% higher at $1.86 per 1 million BTU.

In corporate news, Diamondback Energy ( FANG ) has launched a bond offering comprising up to five parts, Bloomberg reported Tuesday. The longest portion of the issuance is a 40-year security that could yield 170 basis points above Treasuries, the report said, adding the offering's total size is about $5 billion. Diamondback shares were shedding 0.3%.