01:29 PM EDT, 09/10/2024 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 2.4% and the Energy Select Sector SPDR Fund (XLE) declining 2.3%.

The Philadelphia Oil Service Sector index slumped 3.3%, while the Dow Jones US Utilities index was up 0.6%.

Front-month West Texas Intermediate crude oil was falling 4.4% to $65.72 a barrel while the global benchmark Brent crude contract was dropping 3.8% to $69.10 a barrel. Henry Hub natural gas futures were 3.2% higher at $2.24 per 1 million BTU.

In corporate news, Helmerich & Payne (HP) shares fell 3.6% after it said it plans to launch a private placement of senior unsecured notes to help finance the acquisition of KCA Deutag International.