01:29 PM EDT, 04/15/2024 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the Energy Select Sector SPDR Fund (XLE) down 0.7%.

The Philadelphia Oil Service Sector index was posting a 1% drop, and the Dow Jones US Utilities index was shedding 0.5%.

Front-month West Texas Intermediate crude oil was declining 0.9% to $84.89 a barrel while the global benchmark Brent crude contract was dropping 0.8% to $89.74 a barrel. Henry Hub natural gas futures tumbled 4.4% to $1.69 per 1 million BTU.

In corporate news, EQT (EQT) said Monday it has agreed to sell an undivided 40% interest in its non-operated natural gas assets in northeast Pennsylvania to Equinor (EQNR) USA Onshore Properties and their affiliates. The transaction consideration is $500 million in cash and upstream and midstream assets, EQT said. EQT shares shed 1.3% and Equinor ( EQNR ) was down 1%.