03:19 PM EDT, 08/05/2024 (MT Newswires) -- Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index falling nearly 2% and the Energy Select Sector SPDR Fund (XLE) dropping 1.8%.

The Philadelphia Oil Service Sector index retreated 3.5%, and the Dow Jones US Utilities index slumped 2.2%.

Front-month West Texas Intermediate crude oil slid 0.3% to $73.29 a barrel, while the global benchmark Brent crude contract shed 0.2% to $76.65 a barrel. Henry Hub natural-gas futures were 1.4% lower at $1.94 per 1 million BTU.

In corporate news, Kosmos Energy ( KOS ) reported Q2 adjusted earnings Monday of $0.17 per diluted share, up from $0.06 a year earlier. Four analysts polled by Capital IQ expected $0.13. Kosmos shares were falling 3.9%.