03:20 PM EDT, 05/29/2024 (MT Newswires) -- Energy stocks were falling late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.8% and the Energy Select Sector SPDR Fund (XLE) dropping 2%.

The Philadelphia Oil Service Sector index retreated 2.1%, and the Dow Jones US Utilities index was shedding 1.4%.

West Texas Intermediate crude fell 1% to $79.06 a barrel, while global benchmark Brent crude lost 1% to $83.38 a barrel. Henry Hub natural-gas futures tumbled 3.8% to $2.49 per 1 million BTU.

In corporate news, Duke Energy ( DUK ) said Wednesday it signed agreements with Amazon (AMZN), Google (GOOG), Microsoft (MSFT), and Nucor (NUE) to explore ways to support carbon-free energy generation amid growing demand in the Carolinas. Duke shares were shedding 0.8%.