03:17 PM EDT, 08/13/2024 (MT Newswires) -- Energy stocks were declining late Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.5% and the Energy Select Sector SPDR Fund (XLE) shedding 0.9%.

The Philadelphia Oil Service Sector index was down 0.9%, while the Dow Jones US Utilities index was rising 0.5%.

Front-month West Texas Intermediate crude oil fell 2.2% to $78.29 a barrel while the global benchmark Brent crude contract declined 2% to $80.64 a barrel. Henry Hub natural gas futures were 1.4% lower at $2.16 per 1 million BTU.

In corporate news, Talen Energy ( TLN ) shares jumped 6%. The company reported Q2 earnings Tuesday of $7.60 per diluted share, up from $0.49 a year earlier.