03:16 PM EDT, 03/26/2024 (MT Newswires) -- Energy stocks were falling late Tuesday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.5%.

The Philadelphia Oil Service Sector Index was down 0.7%, and the Dow Jones US Utilities Index dropped 1%.

West Texas Intermediate crude oil fell 0.5% to $81.54 a barrel, while the global benchmark Brent crude contract shed 0.8% to $86.10 a barrel. Henry Hub natural gas futures slumped 2.5% to $1.58 per 1 million BTU.

In corporate news, Matador Resources ( MTDR ) said Tuesday it plans to offer $800 million of senior unsecured notes due 2032 in a private placement. Proceeds will be used o repurchase about $699.2 million of outstanding senior notes and for general corporate purposes. Matador shares fell 4%.