01:45 PM EDT, 04/30/2024 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 2.1% and the Energy Select Sector SPDR Fund (XLE) down 2%.

The Philadelphia Oil Service Sector index was posting a 3.2% drop, and the Dow Jones US Utilities index was fractionally lower.

Front-month West Texas Intermediate crude oil was declining 1.1% to $81.73 a barrel while the global benchmark Brent crude contract was shedding 0.6% to $87.85 a barrel. Henry Hub natural gas futures dropped 2.8% to $1.97 per 1 million BTU.

In corporate news, Equitrans Midstream ( ETRN ) reported Q1 adjusted earnings Tuesday of $0.23 per diluted share, up from $0.22 a year earlier. Three analysts polled by Capital IQ expected $0.15. Its shares were falling 0.8%.

DT Midstream ( DTM ) shares rose 0.4% after it reported Q1 adjusted operating earnings of $0.99 per diluted share, up from $0.84 a year earlier. Analysts polled by Capital IQ expected $0.94.

American Electric Power ( AEP ) reported Q1 operating earnings Tuesday, a non-GAAP measure, of $1.27 per share, up from $1.11 a year earlier. Analysts polled by Capital IQ expected $1.25. Its shares rose 1%.