03:25 PM EDT, 06/25/2024 (MT Newswires) -- Energy stocks eased late Tuesday afternoon with the NYSE Energy Sector Index shedding 0.2% and the Energy Select Sector SPDR Fund (XLE) little changed, paring earlier losses.

The Philadelphia Oil Service Sector index fell 0.2%, and the Dow Jones US Utilities index dropped 1.5%.

West Texas Intermediate crude oil declined 1% to $80.79 a barrel, while global benchmark Brent crude fell 1.2% to $84.96 a barrel. Henry Hub natural gas futures slumped 2.9% to $2.73 per 1 million BTU.

In corporate news, Exxon Mobil ( XOM ) is well positioned for the next five years, thanks to a mix of business drivers, including an increase in upstream volumes, UBS said in a note. UBS raised its price target on Exxon to $154 a share from $152 with a buy rating. Exxon shares rose 0.1%.