03:27 PM EDT, 07/09/2024 (MT Newswires) -- Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index down 0.7% and the Energy Select Sector SPDR Fund (XLE) shedding 0.6%.

The Philadelphia Oil Service Sector index was posting a 0.9% drop, while the Dow Jones US Utilities index was adding 0.2%.

Front-month West Texas Intermediate crude oil fell 0.9% to $81.57 a barrel while the global benchmark Brent crude contract dropped 1.1% to $84.81 a barrel. Henry Hub natural gas futures shed nearly 1% to $2.34 per 1 million BTU.

In corporate news, Prairie Operating ( PROP ) said Tuesday it plans to begin drilling its first wells in August at eight sites targeting the Niobrara B and C formations of the Denver-Julesburg basin. Its shares were falling 4.8%.