03:25 PM EDT, 08/20/2024 (MT Newswires) -- Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index falling 1.9% and the Energy Select Sector SPDR Fund (XLE) dropping 2%.

The Philadelphia Oil Service Sector index slumped 2.6%, and the Dow Jones US Utilities index shed 0.3%.

Front-month West Texas Intermediate crude oil was declining 0.4% to $74.04 a barrel while the global benchmark Brent crude contract was shedding 0.5% to $77.30 a barrel. Henry Hub natural gas futures dropped 1.3% to $2.21 per 1 million BTU.

In corporate news, Sasol's ( SSL ) shares fell 4.2% after its fiscal full-year results trailed analysts' estimates. The company also omitted a final dividend, citing high debt.