03:08 PM EDT, 06/09/2026 (MT Newswires) -- Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index falling 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.

The Philadelphia Oil Service Sector Index was shedding 1.8%, and the Dow Jones US Utilities Index rose 0.6%.

Front-month West Texas Intermediate crude oil fell 3.5% to $88.14 a barrel, and the global benchmark Brent crude contract dropped 2.9% to $91.49 a barrel. Henry Hub natural gas futures decreased 0.3% to $3.14 per 1 million BTU.

In corporate news, SLB (SLB) said Tuesday it signed a memorandum of understanding with Qualcomm (QCOM) to enable edge AI offerings for the energy sector. SLB shares were down 2%.