01:26 PM EDT, 09/04/2024 (MT Newswires) -- Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.4% and the Energy Select Sector SPDR Fund (XLE) shedding 0.9%.

The Philadelphia Oil Service Sector index was 0.2% lower, and the Dow Jones US Utilities index was up 0.3%.

Front-month West Texas Intermediate crude oil was declining 0.9% to $69.72 a barrel while the global benchmark Brent crude contract shed 0.8% to $73.15 a barrel. Henry Hub natural gas futures were dropping 2.6% to $2.15 per 1 million BTU.

In corporate news, Targa Resources ( TRGP ) rejected Williams' (WMB) informal takeover interest in recent months, Bloomberg reported Wednesday. Targa shares were falling nearly 2% and Williams was dropping 2.4%.