03:26 PM EDT, 08/28/2024 (MT Newswires) -- Energy stocks were declining late Wednesday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.8%.

The Philadelphia Oil Service Sector Index fell 1.8%, while the Dow Jones US Utilities Index was marginally higher.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 100,000 barrels in the week ended Aug. 23, following a decrease of 4 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 800,000 barrels after a 4.6-million-barrel decline in the previous week, a smaller drop than the 2.8-million-barrel decrease expected in a survey compiled by Bloomberg.

Front-month West Texas Intermediate crude oil dropped 1.2% to $74.62 a barrel, and the global benchmark Brent crude contract fell 1% to $78.73 a barrel. Henry Hub natural gas futures were rising 1.4% to $1.93 per 1 million BTU.

In corporate news, Dominion Energy ( D ) shares added 0.1%. It said Wednesday it has received approval from the Nuclear Regulatory Commission to extend the operating licenses of its North Anna Power Station in Virginia by an additional 20 years.