03:23 PM EDT, 05/21/2024 (MT Newswires) -- Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.3%.

The Philadelphia Oil Service Sector index eased 0.1%, and the Dow Jones US Utilities index rose 0.6%.

West Texas Intermediate crude oil fell 0.9% to $79.06 a barrel, while global benchmark Brent crude dropped 1% to $82.87 a barrel. Henry Hub natural gas futures dropped 2.9% to $2.67 per 1 million BTU.

In corporate news, Edison International ( EIX ) unit Southern California Edison and Lotus Infrastructure Partners said they were selected by the California Independent System Operator to develop and maintain a new transmission infrastructure for delivering renewable energy to Southern California. Edison International ( EIX ) shares rose 0.7%.