01:27 PM EDT, 04/30/2024 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 2.3% and the Energy Select Sector SPDR Fund (XLE) down 2.1%.

The Philadelphia Oil Service Sector index was posting a 3.5% drop, and the Dow Jones US Utilities index was fractionally lower.

Front-month West Texas Intermediate crude oil was declining 1.2% to $81.64 a barrel while the global benchmark Brent crude contract was shedding 0.6% to $87.83 a barrel. Henry Hub natural gas futures dropped 2.4% to $1.98 per 1 million BTU.

In corporate news, Equitrans Midstream ( ETRN ) reported Q1 adjusted earnings Tuesday of $0.23 per diluted share, up from $0.22 a year earlier. Three analysts polled by Capital IQ expected $0.15. Its shares were falling 0.9%.