03:27 PM EDT, 08/02/2024 (MT Newswires) -- Energy stocks fell late Friday afternoon with the NYSE Energy Sector Index dropping 2.6% and the Energy Select Sector SPDR Fund (XLE) slumping 2.8%.

The Philadelphia Oil Service Sector Index tumbled 5.7%, and the Dow Jones US Utilities Index eased 0.1%.

West Texas Intermediate crude oil fell 3.4% to $73.74 a barrel, while global benchmark Brent dropped 3.1% to $77.02 a barrel. Henry Hub natural gas futures rose 0.3% to $1.97 per 1 million BTU.

In corporate news, the list of bidders for Houston-based oil refiner Citgo Petroleum narrowed to CVR Energy ( CVI ) and a group of creditors that includes miner Gold Reserve, Reuters reported. CVR Energy ( CVI ) shares dropped 6.6%.