01:19 PM EDT, 08/13/2024 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the Energy Select Sector SPDR Fund (XLE) shedding 0.9%.

The Philadelphia Oil Service Sector index was posting a 1.1% drop, while the Dow Jones US Utilities index was up 0.3%.

Front-month West Texas Intermediate crude oil was falling 1.8% to $78.62 a barrel while the global benchmark Brent crude contract was declining 1.7% to $80.93 a barrel. Henry Hub natural gas futures were 1.7% lower at $2.15 per 1 million BTU.

In corporate news, Kodiak Gas Services ( KGS ) shares tumbled past 9%. The company reported Q2 earnings late Monday of $0.06 per share, down from $0.30 a year earlier. Two analysts surveyed by Capital IQ expected $0.49.