01:27 PM EDT, 07/23/2024 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index shedding 1.3% and the Energy Select Sector SPDR Fund (XLE) down 1.4%.

The Philadelphia Oil Service Sector index was posting a 0.4% increase, and the Dow Jones US Utilities index shed 0.2%.

Front-month West Texas Intermediate crude oil was declining 1.7% to $77.10 a barrel while the global benchmark Brent crude contract was dropping 1.5% to $81.15 a barrel. Henry Hub natural gas futures fell 2.5% to $2.19 per 1 million BTU.

In corporate news, Genesis Energy (GEL) shares added 1.1% after it said Tuesday that it has syndicated, upsized and closed on an extension of its revolving credit facility, with $900 million in commitments from existing and new lenders.